The market snapped a three-day losing streak on the Nifty50 as bulls managed to win the battle with bears on January 30, but market participants maintained a state of caution ahead of the Union Budget and FOMC meet scheduled for February 1.
The BSE Sensex climbed 170 points to 59,500, while the Nifty50 gained 45 points to close at 17,649, after smartly defending 50 WEMA (weekly exponential moving average - 17,400) and 200 DEMA (daily exponential moving average 17,550), which both are expected to act as crucial support area for the index going forward.