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Bullishness continued as Nifty made a record high on the back of positive global cues. On the daily chart, it has recently given a breakout of a smaller degree falling channel that confirms the strong upside momentum.

The index has been moving within a rising wedge on the daily frame. It has been making higher highs and higher lows. On a larger view, we observe that the benchmark index has moved above its previous swing high. 

In the recent past, the Nifty has taken support at the lower side of the rising wedge around 11,600 and is likely to reach near its upper side which is pegged around 11,900.