Brics PCG expects a strong opening

PCG Brics has RIL, ICICI Bank, SBI, Sun TV and Colgate as their pick of the day setting target levels at Rs 1061, Rs 624, Rs 939, Rs 1,355 and Rs 417 respectively.

On the overall markets they have a negative bias on the today's trade having the resistance level and support levels of Nifty at 3567 and 3479, respectively and for the Sensex at 12,022 and 11,726, respectively.

It expects a strong opening as the rally witnessed towards closing bell yesterday is expected to continue. A decline will follow the strong opening as downward pressure is expected to persist as far the Sensex remain below 12,011-12,064.

Support should be witnessed at 11,860 else a downswing will set in and downward acceleration will begin below 11823.

Hurdles for the Sensex, today will be at 11,936-11,974-11,996; Supports will be witnessed at 11,824-11,786-11,762.