India, Jan. 27 -- Jindal SAW, after a sustained upward move in recent trading sessions, has formed a rounding top pattern on the 1-hour time frame, signalling possible trend exhaustion and a potential bearish reversal.

A rounding top is a classic bearish reversal pattern, characterised by a gradual, curved peak that forms after a sustained uptrend. This formation reflects a slow transition from buying pressure to selling pressure, indicating weakening bullish momentum and signalling a potential shift from an uptrend to a downtrend once the price breaks below the key support level.

On Friday, the stock broke below the Rs 181 support neckline after forming a rounding top pattern. This breakdown, accompanied by sustained selling volumes, c...