New Delhi, Feb. 3 -- Nifty50 on February 1

Nifty50, India's benchmark index, snapped its four consecutive sessions of winning streak and closed 26 points lower at 24,482.15 on Union Budget day. The index started the session with a muted opening at 23,528.60 and traded volatile during the budget presentation. However, the index closed on a flat note at 23,482.15.

As a result, Nifty formed a doji candle with a higher-high and higher-low price structure. On the weekly chart, the index snapped its three consecutive weeks of losses and formed a bullish candle. The advance-decline ratio was flattened and settled around 1:1.

Also read: Will investors flock to agri-stocks after the Budget?

From a technical perspective, the index took resistan...