New Delhi, Jan. 27 -- Nifty 50 on 24 January

Nifty 50, India's benchmark index, had another muted start on Friday, trading with a negative bias throughout the session. It opened at 23,183.90, fluctuated within a narrow range of 23,347.30-23,050, and eventually closed at 23,092.20, down 113 points (-0.49%). While the index saw some buying interest in the first half of the session, volatility took over in the second half. The advance-decline ratio skewed heavily toward decliners, settling at 1:3.

On the weekly chart, the index formed three consecutive bearish candles in a row and lost around 111 points (-0.48%) on a weekly basis. It is trending below the 50-week moving average (WMA) with a negative bias and has formed another lower-low pr...