New Delhi, Feb. 6 -- Nifty 50 on 6 February

The Nifty 50, India's benchmark index, closed 43 points lower at 23,772.05 and snapped its two-day gaining streak. Taking cues from the global markets, the index started the session with a muted opening at 23,801.75 and continued to trade in a broad range of 23,680-23,810 to close near the day's low. As a result, the index formed a bearish candle on the daily chart. Barring FMCG and realty, all other major sectoral indices closed higher. The advance-decline ratio was inclined toward advancers, as it stood around 2:1.

From a technical perspective, the index managed to close above its 50- and 100-EMA. However, today, it faced some resistance around its 50-DMA as well as a downward-sloping trendl...