New Delhi, Sept. 21 -- The Nifty witnessed a weak start to the previous week, declining in the first two trading sessions, with a sharp fall recorded on Tuesday. However, the index recovered gradually over the next three sessions and managed to close higher from the lower levels. Despite this recovery, the overall trend remained under pressure as the index extended its losing streak to the sixth consecutive week, marking one of the longest correction phases in recent times.

The index also moved close to its previous swing low. Although Nifty registered three consecutive positive closing sessions, it was unable to close above the 50% retracement level of the large bearish candle formed on September 15. This indicates that buying interest ...