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On the weekly charts as well, the stock is trading below the 50-WMA, but above the 200-WMA. The stock rose over 3 per cent in a week and fell just a little over 1 per cent in a month compared to over 4 per cent fall seen in the Nifty in the same period.

“From investor standpoint, one needs to be realistic about long-term aspirations on equity market and more critically, book profits because when the economic policy changes for the world and not only in India, we will never know it and all profits may disappear. So people need to book profits and take the cash home. Nothing is long term in this world. The old paradigm in investing is dead.”

Delhivery provides a full range of logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.

“One largecap which trades at a significant discount to the market and is very under owned and in my view is entering into a good growth cycle of at least two to three years. I would still think that there will be buying in this stock now on every dip.”

The Relative Strength Index of the stock stood at 54.88 on Monday.

"Standalone revenue grew 2 times YoY to Rs 9,810 crore, 70 per cent over 1QFY20 (or pre-Covid) levels and 11 per cent below our estimate. While overall growth looks strong, adjusted for the store addition, estimated LTL revenue declined by 13 per cent in 1QFY23," it said, adding that the company does not provide quarterly same-store sales growth.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

“We are stuck, honestly, in the metal space where the call has gone wrong at this point of time. So I must share with investors that we also make mistakes, we are not the brightest sparks in the world but right now, we are trying to find money to put in agriculture related companies.”

Another global brokerage firm Jefferies is majorly bearish on the metal sector. Indian metal stocks have underperformed Nifty50 by 12-34 per cent in June 2021 quarter. It added that it is still early to turn constructive on the sectors where P/B valuations remain above the historical troughs.

On the technical charts, the 200-day moving average of the stock stood at Rs 643.28.