Brics PCG: Expect another volatile day

According to Brics PCG, the undercurrent is strong, but so are the hurdles. As the Sensex revisits yesterday's hurdle zones, wild swings will be witnessed on the index. Resilience at this resistance will be detrimental for the index to move any further.

The current momentum can breach the above mentioned hurdles and reach the target of 12,061 for Sensex (3566 for Nifty), following which probability for a larger correction increases.

But the bias is positive, even as oscillation will continue between 12,061 (3566) and 9901 (2899).

The immediate directional swing on the index is Up and the same will be broken on a decisive breakout below 11,643 (3398).

One can expect another volatile day ahead. The Sensex will witness upward momentum only above 11,930 and below 11,847 the decline
will accentuate.

Hurdles for the Sensex, today will be at 11982-12030-12137, while supports will be witnessed at 11827-11780-11672.