India, March 4 -- After a sustained rally in recent trading sessions, Adani Ports & Special Economic Zone Ltd has formed a triple top pattern on the two-hour time frame. A triple top pattern forms when the price creates three consecutive peaks near the same resistance level, signaling weakening buying momentum. In the above chart, Adani Ports & Special Economic Zone Ltd has broken below the neckline support, confirming the pattern and indicating near-term bearishness.

On Monday, Adani Ports & Special Economic Zone Ltd slipped below the Rs 1,495 support neckline. The breakdown, accompanied by sustained selling volumes, confirms strengthening near-term bearish momentum.

In the case of a triple top pattern in Adani Ports & Special Economic...