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DELHIVERY Ltd

Buy DELHIVERY @ 500.4 with a Target of 560 and a Stop Loss at 470

Delhivery Ltd. is showing strong bullish momentum after recently delivering a decisive breakout above a key horizontal resistance level, indicating a continuation of the prevailing uptrend. The stock is currently trading around Rs 500.40 and is sustaining comfortably above the breakout zone, reflecting strong buying interest and positive price action.

On the technical front, DELHIVERY is trading above all its key EMAs, with the moving averages maintaining a rising alignment, highlighting a healthy medium-term trend and strengthening bullish structure.

The stock recently found strong support at its 20-Day EMA and witnessed a sharp rebound, reaffirming the importance of this dynamic support. The RSI is currently at 69.29, trading well above the midpoint and reversing higher after taking support near the mid-zone, indicating strengthening bullish momentum while remaining supportive of further upside.

For positional traders, Rs 470 should be considered as the key stop-loss level. As long as the stock sustains above this support, DELHIVERY has the potential to advance towards the Rs 560 target, offering an attractive risk-reward opportunity backed by strong technical strength and sustained buying momentum.

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SEBI Registration no.: INZ 000160131