New Delhi, Aug. 21 -- The Nifty 50 is showing signs of a sturdier recovery from its April low, with the index forming a series of higher highs and higher lows even as crude prices, geopolitical tensions and weak foreign flows continue to weigh on sentiment.

The index has gained 6.85% since 2 April, when it touched a low of 22,182.55. Subsequent lows have stayed above that level through 20 August, with the index coming closest to its 2 April low on 8 June, when it fell to 23,070.15.

The Nifty also moved above its 2 April intraday high of 22,782.30 and continued to make higher highs, reaching 24,774.30 on 3 August. The index was around 24,253 in Friday trading, versus Thursday's close of 24,231.85.

The shift in market structure suggests ...