NMDC, Tata Steel, Vedanta: What do tech charts indicate for metal stocks?

Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.

Metal stocks have taken a heavy beating so far in the calendar year 2019 (CY19). Data shows Nifty Metal index has plunged 25 per cent (as of Tuesday's close) as against 0.50 per cent rise in the Nifty 50 index. 

Here's a look at what technical charts indicate for the Nifty Metal index and its key constituents going ahead - 

NIFTY METAL: The index is trading below 200-day moving average (DMA) since October 2018. The monthly chart shows a falling channel pattern, a scenario where higher highs, lower highs indicate selling pressure on every successive reversal. Currently, the lower falling