Technical outlook:
Nifty daily chart has formed "Rising channel" pattern. The last few sessions ended up sideways in trend after a gap up formation inside the channel. The market is expected to continue on bullish momentum, testing all the way up to 12150 level in upcoming sessions. Alternatively, if the market breaks below a key support holding at 11850 then it might turn bearish once again. The downside rally could test up to 11650 level. Key resistance holds at 12150.
Research Report Call:
Buy above 11960 target 12150 stop loss 11850; Sell below 11850 target 11650 stop loss 11960