Is this false break out on day chart in Adani ports ??

On 24/02/2022 It clearly made a clear Open and Close by breaking down the consolidation of around 1 year, and it retraced / short covered exactly to the retracement point.
Will it be a good confirmation for the selling in Adani ports in short term for next 10-20 percent downside and
Would it be the false breakout as the nifty has the are of 200/400 points to 16800 / 17000 to cover on upside.