Lumax Auto Technologies builds a breakout setup!!

Lumax Auto Technologies builds a breakout setup Lumax Auto Technologies Limited (NSE: LUMAXTECH) has been consolidating between ₹1,894 and ₹2,149 since August 11. The stock recently found support around its 34-day EMA, which also coincided with the previous resistance zone. That retest is important because the previous resistance area is now acting as a support base. The price structure therefore remains constructive while the stock holds this zone. Momentum has also improved. The daily RSI has moved above 60 after previously moving sideways. Weekly ADX is gradually rising, indicating improving trend strength. My view is that the upper end of the consolidation range, around ₹2,149, is the main technical trigger. A decisive breakout above this level would confirm that the stock is attempting to resume its previous upward move. I am watching the ₹2,085 to ₹2,110 zone as the key accumulation area identified in the latest technical analysis. The stated risk-control level is ₹2,025, while ₹2,255 is the next technical level to watch.