#Nifty has formed a rising wedge on daily scale. Nifty getting resistance near the upper trendline of the wedge since last 5 sessions continuously. Nifty enjoys strong support near 11850; where it has given sharp reversals in last week. Breaking the lower trendline on closing basis and the floor support of 11850; Nifty may test 11715/11515. And on upside 12040-12100 will remain the supply zone and breaking it would require enough strength by bulls. Breaking ATH may not be a easy job in current circumstances, at least till 14th Nov expiry.
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