Brics PCG: Sensex heading towards 12061

According to BRICS PCG's technical report, the Sensex is moving higher, hitting the hurdles and sliding down. The bias still continues to remain up and the target of 12,061 (3566) will be achieved in the current upward momentum; following which probability for a larger correction increases.

Oscillation will continue between 12,061 (3566) and 9901 (2899). Sensex will face resistance at 12,011-12,059-12,166 and support at 11,856-11,808-11,701.