Lumax Industries path ahead using Advanced Elliott wave!

When we combine Elliott wave along with technical indicators like Keltner channel® and KST, it helps to form powerful setups with accuracy. Witness the magic of Wave theory along with simple Indicators and check out how Lumax Industries Ltd has been moving precisely as per the counts.

See the detailed research below on Lumax Industries Ltd

Lumax Industries Ltd Daily Chart with Elliott wave

Lumax Industries Ltd recently broke above its consolidation range of 3705 to 3930 levels and has extended its gains since. Stock is continuously making fresh highs since past 3 days which highlights strength in the ongoing trend. Along with this, prices have already given a breakout of the upper boundary of the Keltner channel which is a positive sign. Moreover, we have applied KST (know sure thing) to gauge the overall momentum in the stock. Wherein KST line has recently turned above signal line and have turned above zero line as well which can further accelerate bullish momentum in the stock.

The stock is following classic Elliott wave theory. The rise since April 2025 has been in impulse in nature. Wherein, wave 2 got completed on the downside in the August 2025 and the current rise looks to be unfolding in the form of Primary wave 3. Usually wave 3 is considered as the strongest wave as per guidelines.

In a nutshell, we can conclude by saying that when Price and Elliott wave are in sync it can lead to interesting results even in stocks one c an easily forecast probable path.  For now, one can continue to use dips as a buying opportunity with 4050 levels as the important support level.

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