Recent Price Movement and Market Context
As of 5 March 2026, Delhivery’s stock closed at ₹417.50, down 2.53% from the previous close of ₹428.35. The intraday range saw a high of ₹424.80 and a low of ₹410.15, indicating some volatility within the session. The stock remains below its 52-week high of ₹489.95 but comfortably above its 52-week low of ₹236.80, suggesting a recovery phase over the past year.
Comparatively, Delhivery has outperformed the Sensex over the past year, delivering a robust 68.69% return against the benchmark’s 8.39%. However, shorter-term returns have been less favourable, with the stock declining 5.04% over the past week and 6.79% over the last month, both underperforming the Sensex’s respective declines of 3.84% and 5.61%. Year-to-date, Delhivery has posted a modest 3.43% gain, contrasting with the Sensex’s 7.16% loss, highlighting some resilience amid market turbulence.
Technical Trend Shift: From Sideways to Mildly Bearish
Technical analysis reveals that Delhivery’s trend has shifted from a sideways consolidation to a mildly bearish stance. This transition is evident in the daily moving averages, which currently signal a bearish trend. The stock price trading below key moving averages suggests downward pressure in the near term, potentially signalling caution for momentum traders.
On the weekly chart, the Moving Average Convergence Divergence (MACD) remains bullish, indicating underlying positive momentum over the medium term. However, the monthly MACD has turned mildly bearish, reflecting a longer-term cooling in momentum. This divergence between weekly and monthly MACD readings underscores the mixed signals investors face when assessing the stock’s trajectory.
Momentum Oscillators and Volatility Indicators
The Relative Strength Index (RSI) on both weekly and monthly timeframes currently shows no definitive signal, hovering in neutral zones without indicating overbought or oversold conditions. This lack of clear RSI direction suggests that the stock is not exhibiting extreme momentum in either direction, reinforcing the notion of a cautious outlook.
Bollinger Bands add further complexity: weekly bands are bearish, with the price gravitating towards the lower band, signalling increased volatility and potential downside risk. Conversely, the monthly Bollinger Bands are mildly bullish, implying that longer-term volatility may be stabilising and that the stock could be poised for a gradual recovery if support levels hold.
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Additional Technical Indicators: KST, Dow Theory, and OBV
The Know Sure Thing (KST) indicator presents a mildly bullish signal on the weekly chart and a bullish stance on the monthly chart, suggesting that momentum could be building over the medium to long term. This is a positive counterpoint to the bearish signals from moving averages and Bollinger Bands on shorter timeframes.
Dow Theory analysis is similarly mixed, with weekly readings mildly bearish but monthly readings mildly bullish. This divergence highlights the importance of timeframe selection in technical analysis and suggests that while short-term caution is warranted, the longer-term outlook may be more constructive.
On-Balance Volume (OBV) shows no clear trend on either weekly or monthly charts, indicating that volume flow is not decisively supporting either buying or selling pressure. This neutral volume pattern adds to the overall uncertainty in the stock’s near-term direction.
Mojo Score and Grade Update
Delhivery’s current Mojo Score stands at 31.0, reflecting a cautious stance from MarketsMOJO’s proprietary scoring system. The Mojo Grade was downgraded from 'Strong Sell' to 'Sell' on 27 January 2026, signalling a slight improvement but still indicating a negative outlook. The Market Cap Grade is a low 3, suggesting limited market capitalisation strength relative to peers.
These ratings align with the mixed technical signals and recent price weakness, reinforcing the need for investors to exercise prudence and consider risk management strategies when holding or initiating positions in Delhivery.
Comparative Performance and Sector Context
Within the transport services sector, Delhivery’s performance has been uneven. While it has outpaced the Sensex over the past year, its three-year return of 22.18% trails the Sensex’s 32.28%, indicating that longer-term growth has lagged broader market gains. The absence of five- and ten-year return data for the stock limits deeper historical comparison but highlights the importance of monitoring evolving sector dynamics and company fundamentals.
Given the transport services sector’s sensitivity to economic cycles and logistics demand, Delhivery’s technical and fundamental outlook should be viewed in the context of broader macroeconomic trends, including fuel prices, regulatory changes, and infrastructure developments.
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Investor Takeaway and Outlook
Delhivery Ltd’s technical landscape is characterised by a blend of bullish and bearish signals across different timeframes, reflecting a stock in transition. The daily moving averages and weekly Bollinger Bands suggest caution with a mildly bearish short-term outlook, while weekly MACD and KST indicators hint at underlying strength that could support a rebound if market conditions improve.
Investors should weigh these mixed signals alongside the company’s fundamental metrics and sector outlook. The downgrade in Mojo Grade to 'Sell' indicates that risk remains elevated, and the stock’s recent underperformance relative to the Sensex in the short term warrants careful position sizing.
For those considering entry or exit points, monitoring the convergence of moving averages, MACD crossovers, and Bollinger Band behaviour will be critical. A sustained break above key resistance levels near ₹425-₹430 could signal a return to bullish momentum, while a drop below recent lows near ₹410 may confirm further downside risk.
Ultimately, Delhivery’s technical parameters suggest a cautious approach, favouring investors with a higher risk tolerance and a focus on medium- to long-term trends rather than short-term speculation.
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