Delhivery — Inverse Head & Shoulders Breakout in Play?Delhivery is showing a strong Inverse Head & Shoulders pattern on the weekly chart — a classic bullish reversal structure.
After spending months building a broad base, price is now attempting a decisive breakout above the critical neckline resistance near ₹480.
This level is crucial.
Pattern structure:
* Left Shoulder: Early 2024 consolidation
* Head: Major bottom near ₹235
* Right Shoulder: Healthy higher low formation
* Neckline: ₹480
A sustained breakout and weekly close above ₹480 could confirm the pattern and trigger a fresh uptrend.
Key levels to watch:
* Breakout zone: ₹480–500
* Support: ₹450
* Major invalidation: Below ₹400
Upside target: ₹720+ (~50% potential from breakout)
The bigger the base, the bigger the breakout tends to be. If volume supports this move, Delhivery could enter a strong momentum phase.
Disc: Not SEBI registered. For educational purposes only. Please manage risk.
✅ If you like my analysis, please follow me here as a token of appreciation :)
in.tradingview.com
Long
