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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.