New Delhi, Sept. 22 -- The Nifty extended its recovery for the fourth straight session on Monday, advancing nearly 68 points, or 0.29%, to close above the 23,400 mark. As a result, the index has logged its longest winning streak since CAS rollout in August.

The index formed a bullish candle and maintained a higher-high, higher-low structure compared with the previous trading session. The candle was also the strongest bullish formation seen over the last four sessions, pointing to an improvement in short-term price action.

The sequence of higher lows remains supportive for the recovery, but the overall trend is yet to turn decisively positive.

The Nifty managed to settle above the 61.8% retracement level of the large bearish candle form...