I am trying to establish equality of three equal variables, but the following code is not printing the obvious true answer which it should print. Can someone explain, how the compiler is parsing the given if condition internally?

#include<stdio.h>
int main()
{
        int i = 123, j = 123, k = 123;
        if ( i == j == k)
                printf("Equal\n");
        else
                printf("NOT Equal\n");
        return 0;
}

Output:

manav@workstation:~$ gcc -Wall -pedantic calc.c
calc.c: In function ‘main’:
calc.c:5: warning: suggest parentheses around comparison in operand of ‘==’
manav@workstation:~$ ./a.out
NOT Equal
manav@workstation:~$

EDIT:

Going by the answers given below, is the following statement okay to check above equality?

if ( (i==j) == (j==k))