Indian stock markets likely to continue upward journey in the coming week

The benchmark indices on Friday logged their third weekly gain in four weeks. Stocks are likely to edge higher in the coming week if chartists are to be believed. According to analysts, the Nifty can move towards 12,000-12,100 levels, provided it holds above 11,820. On the downside, the major support is seen at 11,780 and 11,700 zones.

Currently, the benchmark indices are near lifetime highs after clocking gains of more than 11 per cent since September 19, a day before corporation tax rate cuts were announced. The markets, however, have been highly volatile in the past one month, with the Nifty