Sensex Off Day's Highs, Nifty Trades Above 10,100; Canara Bank Down 2%

The Nifty which is still struggling to reclaim its 200-days moving average could see a pullback rally first and then retest 9800 kind of levels led by fall in global markets, Gautam Shah, Associate Director & Technical Analyst at JM Financial said in an interview with CNBC-TV18.

The last one and a half month were challenging and it was required after the recent run-up we saw in the year 2017. 

The problem is that even at levels of 10100 we don’t have evidence on the chart which suggests that the market is bottoming out for good, said Shah.

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