New Delhi, Sept. 8 -- The Nifty failed to build on Friday's modest rebound and returned to the declining trend on Monday, September 7. The index began the session about 14 points lower and remained weak for most of the day, eventually ending 118.35 points down at 23,779.15.

The decline took the index to an intraday low of 23,737.90. Some recovery was seen during the Closing Auction Session, which helped the Nifty move off the day's low, though it did little to change the weakness seen through the session.

With touching intraday low of 23,737.90 on Monday, the index has now fallen by more than 1,000 points from the early-August swing high of 24,774.

On the daily time frame, the index has formed a bearish bodied candle, carrying lower hi...