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Scholars of religion have traced the cross-pollination of modern Hindu and Buddhist traditions with the language of “experience”. (Source)
Is modern an adjective for both Hindu and buddhist traditions or only for Hindu tradition? How can one know that?
It's somewhat ambiguous. However, an author who is concerned about possible ambiguity will likely rearrange things to avoid the ambiguity, for example
Scholars of religion have traced the cross-pollination of Buddhist and modern Hindu traditions with the language of “experience.”
Knowing this, and noticing that the author didn't write it that way, we can conclude that probably the adjective refers to both nouns.
