Technical View: 10,674 is the key, BRICS PCG

The immediate downtrend saw a brief pause yesterday as the Sensex rebounded initially hitting the low of 10,185 and scaled above the 10,800-mark.

The uptrend witnessed yesterday lacked vigor as the rally was slow and hence questions are raised on the longevity of this uptrend.

Next hurdle for the Index is at 11,143 (Nifty 3314) around this level the ongoing uptrend may take a pause but 10,674 (3,164) should not be broken decisively.

The larger trend continues to remain neutral and the bias remains negative, oscillation will continue between 12,671 and 9827 for some length of time.

Today if the Sensex sustains above 10,674 the upswing will be sustained and further rise will be witnessed that will push the Sensex above 11,000.

The immediate swing on the Sensex is up and the same will be broken on a decisive break below 10,504.