Chart Check: How to trade Tata Steel, SAIL and Jindal Steel

Here's a look at how the select metal stocks and Nifty Metal index look on technical charts -

Metal stocks took a heavy beating on Tuesday sending the Nifty Metal index tumbling. However, the stocks recovered on Wednesday with Tata Steel and Vedanta among the gainers on the S&P BSE Sensex. 

Here's a look at how the Nifty Metal index and select metal stocks look on technical charts - 

Nifty Metal: The weekly and monthly charts indicate bearish sentiment for the index. Both the time frames have “Head and Shoulder” patterns with clear breakdown. It has formed “Lower High and Lower low" pattern, indicating every rise has been capitalised for selling ambitions.  

The index is consistently trading below the significant