Losing sheen! Don't lap up metal stocks yet, hint tech charts; here's why

The overall trend for metal stocks seems to be precarious, and a further downside cannot be ruled out

Metal shares witnessed their biggest meltdown in recent times on Monday as a debt crisis at one of China’s biggest property developers, Evergrande, led to a global decline in industrial metals and ore prices. The BSE Metal index tumbled nearly 7 per cent in trade in the last session. READ MORE

Should you enter the stocks at current levels or wait for them to turn cheaper? Tech charts suggest latter seems to be a better option. Here's why 

NIFTY METAL

Outlook: Index needs to show stability above 100-DMA

The index struggled to conquer 5,900 levels decisively, which resulted