Lokesh Machines has made a strong advance within a rising price channel, with the recent peak potentially marking the completion of green Wave 3.
The stock is now correcting in Wave 4 and has retraced toward the upper boundary of the rising channel and also on 38% retracement. This area is important to watch for signs of support and a possible resumption of the uptrend.
If the channel holds and Wave 4 completes, Wave 5 could develop toward the ₹480–₹590 region. A sustained break below channel support would weaken this bullish interpretation.
The stock is now correcting in Wave 4 and has retraced toward the upper boundary of the rising channel and also on 38% retracement. This area is important to watch for signs of support and a possible resumption of the uptrend.
If the channel holds and Wave 4 completes, Wave 5 could develop toward the ₹480–₹590 region. A sustained break below channel support would weaken this bullish interpretation.
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