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With a positive crossover of the 50-day moving average (DMA) with 100-DMA, the metal index can breakout above the trendline resistance of 2,150 levels.
Metals, mining and energy major Vedanta tops the list with asset impairment worth nearly Rs 50,000 crore since FY15 as it slashed the fair value of its investment
Tata Steel has witnessed "Death Cross" pattern on the weekly chart but RSI and MACD are trading with a positive crossover.
Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.
In the past three months, the stock has underperformed the market by falling 30 per cent, as compared to a three per cent decline in the S&P BSE Sensex.
Here's a look at how the select metal stocks and Nifty Metal index look on technical charts -