Brics PCG: Week to start on a positive note

The Sensex witnessed support near the 9902 and bounced off sharply above previous week's high, thus negating the downward bias. An intermediate upswing has begun but it can be extended only on a decisive breakout above 10940 (3209) else a sideways trend will be witnessed and oscillation will continue in the price range of 10940(3209)-9902(2899).

Above the 10940 (3209) the next crucial hurdle is at 11143 (3314) surpassing the same on strength can open new avenues for the index.

The week ahead will start on a positive note and the uptrend is expected to continue further amidst volatility as the street get in terms with the rise in the index.

Hurdles for the Sensex this week will be at 10,853-10,966-11,081; Supports will be witnessed at 10,507-10,394-10,280.