Brics PCG: Markets likely to be volatile

According to Brics PCG's technical report, the market is expected to be volatile. A strong opening will be followed by a decline. Only if it sustains above 11,930, the upward momentum will continue.

Sensex will face resistance at 11,992-12,039-12,147 and support at
11,837-11,789-11,682.

However the bias is positive and oscillation will continue between 12,061 (3566) and 9901 (2899) for Sensex (Nifty).

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