Delhivery cmp 460. Stock price posted a post IPO (IPO price at 487) listing high of 708 and fell down precipitously along with most other fancied newly listed companies in 2022 . It posted a low of 291 in Jan 2023 and started rallying. It crossed its 52 week high of 450 few weeks back and posted a swing high of 488 and has been consolidating at and around its breakout level of 450.
It has broken out above a cup and handle pattern above 450. If this pattern plays out target can be 600.
In the chart attached, I have put in retracement levels of the fall from 708 to 291. 450 also happens to be 38.2% retracement of the fall. On charts therefore 450 region remains very important.
Fundamentally company posted its first quarter of net profit growth in q3 fy 24. Company does presentations, concalls so anyone interested can do detailed research.
disc: invested as a techno funda bet. ( not a recommendation. Please do your own diligence if you consider investing. )
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