Drilling and/or chipping tool

A drilling and/or chipping tool comprising a housing (1) having a front end, a rear end and an axis extending in the front end-rear end direction, a tool bit holder (10) located at the front end of and extending in the axial direction of said housing, a piston guide (15) located in and extending in the axial direction of said housing and projecting from the front end of said housing into said tool bit holder, a cap (8) laterally enclosing said tool bit holder and at least partially rotatable relative to said tool bit holder, a locking sleeve (9) located at the front end of said housing and extending towards said cap and displaceable in the axial direction of said housing against a biasing force of a spring (18), a radially displaceable locking element (17) positioned in a through opening (10a) in said tool bit holder (10), said locking element being engageable in at least one recess (16) in said piston guide for connecting said piston guide and tool bit holder together, said locking element (17) is radially displaceable by axially displacing said locking sleeve (9), wherein the improvement comprises a first set of teeth on said locking sleeve (9) and a second set of teeth on said housing (1) with said first and second sets of teeth arranged to be placed in meshed engagement, and said sleeve has an axially extending interior section of variable diameters for contacting said locking element (17).