Nifty has reversed 3 time in last few days from near 11600 level. It had created a gap on election day at 11595 which is now acting as a major support. It is also trading within parallel channel. If it close above 11880 then we can say that reversal has taken place. On lower level 11780-11800 and 11730 is a major support zone. CCT has signaled buy on daily chart. 50 DEMA has acted as a major support. Market has close above both 10 & 20 DEMA.
Normally, we see pre-budget rally in market and specifically in sectors having impact of budget.
Close above 11870 can take market to new highs, provided 11600 is intact on closing basis.