Nifty may slip upto 4320-4260: Angel

According to Angel Broking Technical Analysis report, if the indices trades convincingly below 14608/4386 levels then we may witness a further downside up to 14560–14420 / 4320–4260 levels.

Angel Broking Technical Analysis report:

Indices opened with an upward gap, however due to profit booking at higher levels indices closed in red after five days of rally. Further, on the daily chart, Sensex has formed ‘Dark Cloud ’which is a bearish pattern and indicates further weakness in the coming trading sessions. However if the indices trades convincingly below 14608/4386 levels then we may witness a further downside up to 14560–14420 / 4320–4260 levels. The immediate resistance is at 15000/4500 levels. Traders are advised to book profits and avoid going long at current levels.

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