New Delhi, Feb. 1 -- Nifty 50 on 31 January: A recap

The Nifty 50, India's benchmark equity index, extended its winning streak for the fourth consecutive session, rising 250 points to close at 23,508.40 ahead of the Union Budget.

Following global market trends, the index opened flat at 23,296.75 but quickly gained momentum throughout the day, closing near its high at 23,508.40. This resulted in a bullish candlestick with a higher-high and higher-low structure. All major sectoral indices ended in the green, with the broader market also participating in the rally. The advance-decline ratio favored advancers, standing at 3:1.

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From a technical standpoint, the Nifty 50...