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
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.