Technical Trend Shift and Price Momentum
Delhivery’s recent price action reflects a subtle but meaningful change in momentum. The stock’s current price of ₹442.25 is up from the previous close of ₹439.65, with intraday highs reaching ₹446.75 and lows at ₹438.25. This movement comes after a period of consolidation, signalling a transition from a sideways trend to a mildly bullish trajectory on the weekly charts. The 52-week high stands at ₹489.95, while the 52-week low is ₹236.80, indicating substantial room for upward movement relative to recent lows.
The weekly technical trend upgrade suggests that buyers are gradually gaining control, supported by positive momentum indicators. However, the daily moving averages remain mildly bearish, indicating that short-term price action is still under some pressure. This divergence between daily and weekly signals highlights the importance of monitoring multiple timeframes for a comprehensive view.
MACD and RSI: Divergent Signals
The Moving Average Convergence Divergence (MACD) indicator offers a mixed outlook. On the weekly chart, MACD is bullish, reflecting increasing upward momentum and potential for further gains. Conversely, the monthly MACD remains mildly bearish, suggesting that longer-term momentum has yet to fully confirm a sustained uptrend. This divergence may indicate that while short- to medium-term investors are optimistic, longer-term caution persists.
Relative Strength Index (RSI) readings provide little directional clarity, with both weekly and monthly RSI showing no significant signals. This neutral stance implies that the stock is neither overbought nor oversold, leaving room for price movement in either direction depending on upcoming market catalysts.
Bollinger Bands and Moving Averages
Bollinger Bands reinforce the bullish case, with both weekly and monthly bands indicating upward price pressure. The stock price is currently trading near the upper band on the weekly chart, a sign of strength and potential continuation of the upward trend. However, the daily moving averages, which are mildly bearish, suggest that short-term corrections or consolidation phases could occur before any sustained rally.
Additional Technical Indicators: KST, Dow Theory, and OBV
The Know Sure Thing (KST) indicator aligns with the bullish momentum, showing mildly bullish signals on the weekly chart and bullish readings on the monthly chart. This supports the view that momentum is improving across multiple timeframes.
In contrast, Dow Theory assessments remain mildly bearish on both weekly and monthly charts, reflecting some underlying caution among market participants. This may be due to broader sector or macroeconomic factors impacting investor confidence.
On-Balance Volume (OBV) readings are bullish on both weekly and monthly charts, indicating that volume trends support the price advances. This volume confirmation is a positive sign, suggesting that buying interest is genuine and not merely speculative.
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Comparative Performance and Market Context
Delhivery’s recent returns have outpaced the broader Sensex benchmark significantly. Over the past week, the stock has gained 3.52%, compared to a 0.30% decline in the Sensex. The one-month return is even more impressive at 14.16%, dwarfing the Sensex’s 0.87% gain. Year-to-date, Delhivery has risen 9.56%, while the Sensex has fallen 3.49%, underscoring the stock’s relative strength amid broader market volatility.
Over the past year, Delhivery’s return of 68.8% far exceeds the Sensex’s 10.25%, reflecting strong investor appetite for the company’s growth prospects. However, over a three-year horizon, the stock’s 25.55% return trails the Sensex’s 38.32%, indicating some longer-term underperformance relative to the benchmark. This mixed performance profile may explain the cautious technical outlook and the current Mojo Grade of Sell, albeit upgraded from a Strong Sell on 27 Jan 2026.
Mojo Score and Market Capitalisation Insights
Delhivery holds a Mojo Score of 47.0, which places it in the Sell category, reflecting moderate concerns about its near-term outlook despite some technical improvements. The previous grade was Strong Sell, indicating an upgrade in sentiment but still cautionary. The company’s market capitalisation grade is 3, suggesting a mid-tier valuation relative to peers in the transport services sector.
These ratings reflect a balance between the company’s strong recent price momentum and lingering uncertainties in the sector and broader economy. Investors should weigh these factors carefully when considering exposure to Delhivery.
Sector and Industry Considerations
Operating within the transport services sector, Delhivery faces both opportunities and challenges. The sector is sensitive to economic cycles, fuel price fluctuations, and regulatory changes. While the company’s recent technical signals point to improving momentum, the mildly bearish Dow Theory readings suggest that sector headwinds may still temper gains.
Investors should monitor sector developments closely, as well as Delhivery’s operational performance and earnings updates, to better gauge the sustainability of the current technical uptrend.
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Investor Takeaway and Outlook
Delhivery Ltd’s technical landscape is characterised by a cautious optimism. The shift from a sideways to a mildly bullish trend on weekly charts, supported by bullish MACD and OBV readings, suggests that the stock may be poised for further gains in the near term. However, the presence of mildly bearish signals on monthly MACD, daily moving averages, and Dow Theory assessments advises prudence.
Investors should consider the stock’s strong recent relative performance against the Sensex, particularly its 68.8% return over the past year, while remaining mindful of the broader sector risks and mixed longer-term returns. The current Mojo Grade of Sell indicates that while the stock is improving technically, it has yet to demonstrate a fully convincing turnaround.
Monitoring upcoming earnings, sector developments, and macroeconomic factors will be crucial in assessing whether Delhivery can sustain its positive momentum and potentially upgrade its technical and fundamental ratings further.
Summary of Key Technical Indicators:
- Weekly MACD: Bullish
- Monthly MACD: Mildly Bearish
- Weekly RSI: Neutral
- Monthly RSI: Neutral
- Weekly Bollinger Bands: Bullish
- Monthly Bollinger Bands: Bullish
- Daily Moving Averages: Mildly Bearish
- Weekly KST: Mildly Bullish
- Monthly KST: Bullish
- Weekly Dow Theory: Mildly Bearish
- Monthly Dow Theory: Mildly Bearish
- Weekly OBV: Bullish
- Monthly OBV: Bullish
Given this mixed but improving technical profile, Delhivery remains a stock to watch closely for investors seeking exposure to the transport services sector with a moderate risk appetite.
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