BRICS Privilege Client Group (PCG) is expecting the market to rebound in case of a substantial fall. It says that Sensex 9827 is likely to be a rebound point.A report issued by the broking house said: "The Sensex has hit the low of 9827 from the high of 12,671 in eight days - the swiftest-ever decline witnessed on the index. A rebound should now follow before the immediate bottom of 9827 is broken. Further, a rally/rebound will be witnessed any time now, but the current downswing will be terminated only when the Sensex moves above 10710 with strength today." "The severe retracement witnessed cannot erase the negativity by a mere rebound. A strong consolidation post the severe decline will be awaited for any sustainable uptrend to begin. Hence the index is expected to oscillate between 12,671 and 9,827 for some length of time. Today, if the Sensex crosses and sustains above 10,745, further upswing will push the Sensex to 11,000 but below 10,410 further declines will be witnessed. The immediate swing on the Sensex is down, and the same will be broken on a decisive break above 10,745," it added.
