Vedanta, JSW can soar up to 18% as Nifty Metal eyes 'Golden Cross' breakout

The Nifty Metal index can rally up to 11 per cent following the breakout. Among individual stocks, Tata Steel needs to conquer its 200-DMA to gain strength.

The domestic benchmark indices began the week on a shaky note amid concerns over further policy tightening by the US Federal Reserve. The Sensex and Nifty 50 opened gap-down with a cut of 1.25 per cent each.

Similarly, major markets in Asia too were seen trading with deep cuts. The Hang Seng was down 2.45 per cent, while Nikkei 225 dropped 0.71 per cent. Strait Times and Taiwan declined 1.24 per cent and 1.37 per cent, respectively.

Back home, despite the broader market weakness metal shares were soon off the blocks, recovering notable ground from the lows of the