India, Jan. 12 -- The stock after experiencing an uptrend in recent trading sessions, has formed a triple top pattern in the 3-hour time frame, signalling a potential bearish reversal. The triple top is a well-known bearish reversal pattern marked by three peaks forming near the same price level, with moderate pullbacks in between. It indicates weakening buying momentum and signals a potential shift from an uptrend to a downtrend once the price breaks below the support level, known as the neckline.

On Friday, MMTC share price broke below the Rs 65.6 support neckline after forming a Triple top pattern. This breakdown, accompanied by continuous selling, confirms near-term bearish momentum.

The downside target is generally derived by measu...