New Delhi, Sept. 4 -- After witnessing a decent recovery from the recent lows on Wednesday, the Nifty 50 started Thursday's session on a positive note, opening with a gap-up of nearly 83 points. The opening move helped the index fill the downside gap created in the previous session, with the benchmark touching an intraday high of 24,025.40.

However, the initial optimism faded as the index faced resistance near the 100-DMA. The bulls failed to sustain the early momentum, leading to a sharp reversal during the session. From the day's high, the Nifty 50 declined nearly 152 points and eventually closed 41 points lower at the day's low.

The day's price action resulted in the formation of a bearish Closing Marubozu candlestick pattern. This p...