After respecting historical support near ₹140, Lokesh Machines has broken out from a descending channel. The price is now attempting to hold above the 30-week SMA (~₹189) but faces congestion from prior supply zones. 📌 Key Observations: A breakout from the falling channel structure has occurred on increased volume. Price is currently testing the 30 SMA zone, which has previously acted as a dynamic resistance. Immediate resistance levels lie around ₹209 and ₹233. 📈 Momentum Gauge: RSI has pushed above the 50 level (currently at 51.77), indicating improving strength. However, follow-through price action and RSI continuation are needed for bullish conviction. 🎯 Summary: The setup shows early signs of trend reversal. A move above ₹209–₹233 zone with supportive RSI strength could attract momentum buyers. Failing to hold 30 SMA may delay further upside. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)

#TechnicalViews