Delhivery, Tata Elxsi: Trading strategies in stocks that hit 52-week lows

A total of 195 stocks hit fresh 52-week lows in intra-day trades on the BSE; off which among the top 500 shares Delhivery and Emcure Pharmaceuticals hit new all-time lows on Wednesday.

The Indian equity benchmark indices were seen trading with a negative bias on Wednesday dragged by intense selling pressure in IT shares. The BSE Sensex was down over 400 points or 0.6 per cent, while the IT index cracked nearly 3 per cent. The broader market trend has been weak, since the benchmark indices registered a peak in September 2024.  Amid the current market fall, several stocks have declined up to 50 per cent from their respective peaks, and were seen trading at record lows. On Wednesday, as many as 242 stocks out of 3,888 traded on the BSE were locked at their respective lower circuit limits, and 195 hit new 52-week lows.  Prominent stocks were - IndusInd Bank, LTI Mindtree, Dr. Reddy's, IDFC First Bank, Tata Elxsi, Sonata Software, Birlasoft, VIP Industries, JP Chemicals, Latent View and Yes Bank to name a few. Among these there were two stocks namely - Delhivery and Emcure Pharmaceuticals which registered a new all-time low on Wednesday.  Here's a trading strategy, with key levels, in 5 stocks that today are trading at 52-week lows.  Delhivery  Current Price: Rs 239  Downside Risk: 22.6%  Support: Rs 220  Resistance: Rs 264  Delhivery stock has halved or shed 51 per cent from its high of Rs 488 registered in February 2024; the stock has since lower-highs and lower-lows on the long-term chart. On the daily scale, the stock trades in an extremely oversold zone. Despite this, the near-term bias for the stock is expected to remain negative as long as the stock trades below Rs 264. On the downside, the stock may find support around Rs 220 levels; below which a slide to Rs 185 seems likely. CLICK HERE FOR THE CHART    Dr. Reddy's Labs  Current Price: Rs 1,100  Downside Risk: 7.3%  Support: Rs 1,040  Resistance: Rs 1,170  Dr. Reddy's Labs share has shed nearly 21 per cent since the start of the calendar year 2025. The stock seems on course to test its super trend line on the monthly scale, which is at Rs 1,040 levels; below which a dip to Rs 1,020 seems likely. The short-term bias is expected to remain negative as long as the stock trades below Rs 1,170. CLICK HERE FOR THE CHART  IDFC First Bank  Current Price: Rs 54.25  Downside Risk: 18.2%  Support: Rs 53.35; Rs 51.60; Rs 48  Resistance: Rs 59.50  IDFC First Bank stock has plunged over 46 per cent from its all-time high of Rs 100.70 registered in September 2023. The stock, at present, is seen testing its 100-WMA (Weekly Moving Average) support at Rs 53.35. The long-term chart shows presence of key support at Rs 51.60 levels; below which a dip to Rs 44.40 levels cannot be ruled out, with some support seen at Rs 48. The overall bias for the stock is expected to remain tepid as long as the stock trades below Rs 59.50. CLICK HERE FOR THE CHART    Tata Elxsi  Current Price: Rs 5,275  Downside Risk: 22.3%  Support: Rs 5,165; Rs 5,060; Rs 4,650  Resistance: Rs 5,520; Rs 5,700  Tata Elxsi stock has tumbled over 46 per cent from its August 2024 high of Rs 9,080. The stock is expected to trade on a weak note as long as it sustains below Rs 5,520; above which key resistance for the stock stands at Rs 5,700 levels. On the downside, the stock can potentially slide all the way to test its long-term support around Rs 4,100 levels. Interim support for the stock can be anticipated around Rs 100-MMA (Monthly Moving Average) support at Rs 5,165, Rs 5,060 and Rs 4,650 levels. CLICK HERE FOR THE CHART  VIP Industries  Current Price: Rs 285  Downside Risk: 10.9%  Resistance: Rs 313  VIP Industries share has cracked by 61 per cent from its September 2023 high of Rs 720, as the stock began its downward journey. Thus far this year, the stock has shed 41 per cent, and trades in a fairly oversold zone. The long-term chart shows that the stock is on course to test its 200-MMA at Rs 254 - a key moving average the stock has never violated till date. The overall bias for the stock is expected to remain bearish as long as the stock trades below Rs 313. CLICK HERE FOR THE CHART