India, Jan. 9 -- Hindustan Zinc, after experiencing a prolonged uptrend in recent trading sessions, has formed a double top pattern in the 4-hour time frame, signalling a potential bearish reversal.

The double top is a classic bearish reversal pattern, characterised by two peaks formed at roughly the same price level, separated by a moderate pullback. This formation suggests that buying pressure is weakening and signals a potential shift from an uptrend to a downtrend once the price breaks below the support level (the neckline).

On Thursday, the stock broke below the Rs 605 support neckline after forming a Double top pattern. This breakdown, accompanied by increased selling volumes, confirms near-term bearish momentum.

The downside ta...