Adani Group Stocks Surge At Risk Of Reversal Now

Gautam Adani, who started the year as No. 14 on the Bloomberg Billionaires Index

had surged to the second spot before last week's rout in his company's stocks reversed some gains in his wealth

The stock rallies of Gautam Adani's companies, which expanded his fortune at a pace that outran all other billionaires globally

is set for a reversal, according to a technical indicator that predicted previous slumps for more than a decade

a widely followed DeMark technical indicator that forecast drops in Adani Enterprises Ltd. three times since 2009

suggests that last week's near 6% slump in the shares of the company may extend

the stock continuing to pare its more than 100% gains for the year. It also hints at losses in the offing for the shares of Adani Total Gas Ltd. and Adani Ports & Special Economic Zone Ltd.

Technical indicators suggest that these three Adani group stocks will face significant headwinds,