second end 122 of the shackle 12 simultaneously pass through the axial grooves 162 of the dials 161 by adjusting the dials 161 the axial teeth 123 are not allowed to pass through the axial grooves 162 and the padlock 1 is again in a locked state based on the above descriptions the padlock in accordance with the first preferred embodiment of the present invention is disclosed it can be operated by either a key or a combination in addition it can be observed that the stop member 14 and the locking member 16 respectively limits the rotational movement of the first end 121 of the shackle 12 and the axial movement of the second end 122 of the shackle 12 to perform the desired locking function further since there is no notch formed on the shackle 12 the cost for the additional machining process can be avoided and the structure strength of the shackle is superior to that of the conventional shackle fig1 shows a partially sectional view of a padlock in accordance with a second embodiment of the present invention in the current embodiment a hole 116 is formed within the casing 11 u2032 in addition the locking mechanism 16 u2032 comprises a shoulder 124 which protrudes from the second end 122 of the shackle 12 and is pivotally received within the hole 116.