{"id":12873,"date":"2023-01-15T11:09:15","date_gmt":"2023-01-15T05:39:15","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=12873"},"modified":"2023-02-01T21:15:54","modified_gmt":"2023-02-01T15:45:54","slug":"weekly-update-15th-jan-23","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/","title":{"rendered":"Weekly Update: 15th Jan 23"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#NIFTY50\" title=\"NIFTY50\">NIFTY50<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Nifty50_Weekly_Chart\" title=\"Nifty50 Weekly Chart\">Nifty50 Weekly Chart<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#BANK_NIFTY\" title=\"BANK NIFTY\">BANK NIFTY<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Bank_Nifty_Weekly_Charts\" title=\"Bank Nifty Weekly Charts\">Bank Nifty Weekly Charts<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Top_Performing_Sectors_of_the_Week\" title=\"Top Performing Sectors of the Week\">Top Performing Sectors of the Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Worst_Performing_Sectors_of_the_Week\" title=\"Worst Performing Sectors of the Week\">Worst Performing Sectors of the Week<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Important_News\" title=\"Important News\">Important News<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#Key_Results_to_watch_out_this_week\" title=\"Key Results to watch out this week\">Key Results to watch out this week<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-15th-jan-23\/#ABOUT_THE_AUTHOR\" title=\"ABOUT THE AUTHOR\">ABOUT THE AUTHOR<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NIFTY50\"><\/span><strong>NIFTY50<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The index has been hovering near its 100-DMA for the last three weeks with a negative bias. Nifty began the week on a higher note as the index reclaimed its 100-DMA. Over the next few sessions, the index traded near its 100-DMA and breached it. On Friday, the index found good buying support and reclaimed its 100-DMA. For the week, barring Nifty FMCG, all sectoral indices closed higher. Nifty IT and Metal were the top advancers.<\/p>\n<p>On Thursday, when the market breached its correction low of 17774. However, there was a smart recovery and the index closed in the upper half of the day\u2019s range. Hence, we marked Thursday\u2019s action as day 1 of an attempted rally. Friday\u2019s session will be considered day 2 of an attempted rally as Thursday\u2019s low was not breached. On the daily charts, the Nifty is still in a downtrend. The next week is crucial as the Nifty may either breach the support level at 17750 or attempt to change its trend if it ends the week above 18150.<\/p>\n<p>For the next week, support for the Nifty remains at 17750, and the immediate resistance level is at 18100 levels.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nifty50_Weekly_Chart\"><\/span>Nifty50 Weekly Chart<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-12874 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/15.1.png\" alt=\"Nifty Weekly update\" width=\"577\" height=\"276\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/15.1.png 577w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/15.1-300x144.png 300w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BANK_NIFTY\"><\/span>BANK NIFTY<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bank Nifty ended the week 35 points below from where it started. Bank Nifty is consolidating in the 2000 points range for the last 4 weeks. PSU Banks are holding strongly and can lead the next rally.<\/p>\n<p>Bank Nifty is trading in the range of 41600 to 43600 where 41600 will act as major support and major resistance will be 43600. On the daily charts, the Bank Nifty is in a downtrend. If it crosses the resistance level of 43600 this week, we can expect another 3000 points rally in Bank Nifty over the next few weeks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bank_Nifty_Weekly_Charts\"><\/span>Bank Nifty Weekly Charts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h2><img decoding=\"async\" class=\"aligncenter wp-image-12875 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/15.2.png\" alt=\"Weekly chart\" width=\"577\" height=\"276\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/15.2.png 577w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/15.2-300x144.png 300w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Top_Performing_Sectors_of_the_Week\"><\/span>Top Performing Sectors of the Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The effect of the results of the leading IT companies is clearly seen this week in the Nifty IT index. With results that were better than analyst expectations and no signs of any slowdown, the worst for the IT sector seems to be over and it has emerged as one of the best-performing sectors this week.<br \/>\n<strong>\u2981 Nifty IT 3.5% Up<\/strong><br \/>\n&#8211; TCS 5.08% Up<br \/>\n&#8211; HCL Technologies 4.36% Up<br \/>\n&#8211; Persistent Systems 4% Up<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-12876 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/it-sector.png\" alt=\"IT sector\" width=\"581\" height=\"276\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/it-sector.png 581w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/it-sector-300x143.png 300w\" sizes=\"(max-width: 581px) 100vw, 581px\" \/><\/p>\n<p style=\"text-align: center;\">(Nifty IT Weekly Chart)<\/p>\n<p>\u2981 <strong>Nifty Metals 2.58% Up<\/strong><br \/>\n&#8211; Hindustan Copper 9.49% Up<br \/>\n&#8211; Hindalco Industries 5.59% Up<br \/>\n&#8211; JSW Steel 5.51% Up<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Worst_Performing_Sectors_of_the_Week\"><\/span>Worst Performing Sectors of the Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u2981 Nifty FMCG 1.03% down<\/strong><br \/>\n&#8211; VBL 12.7% down<br \/>\n&#8211; Marico 3.22% down<br \/>\n&#8211; UBL 2.27% down<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-12877 size-full\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/01\/worst.png\" alt=\"\" width=\"576\" height=\"279\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/worst.png 576w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/01\/worst-300x145.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/p>\n<p style=\"text-align: center;\">(Nifty FMCG Weekly Chart)<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Important_News\"><\/span>Important News<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u2981 Anup Engineering\u2019s Q3 FY23 revenue surged 141% y\/y to Rs 114 crore. Net profit increased 130% y\/y to Rs 13.8 crore.<br \/>\n\u2981 Ganesh Housing Corp.\u2019s Q3 FY23 revenue was down 12.1% y\/y to Rs 66.8 crore. PAT was down 14.7% y\/y to Rs 21.1 crore.<br \/>\n\u2981 Rama Steel Tubes\u00a0signed an MoU with the U.P government to set up a steel processing unit. The proposed investment will be Rs 600 crore, to be invested in a phased manner<br \/>\n\u2981 Rail Vikas Nigam\u00a0was awarded a letter of award (LoA) by Southern Railway for automatic block signalling in Chennai. The total cost of the project is Rs 38.97 crore and is to be executed in 15 months.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Key_Results_to_watch_out_this_week\"><\/span>Key Results to watch out this week<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>16th January<\/strong><br \/>\n\u2981 Federal Bank<br \/>\n\u2981 Bank of Maharashtra<\/p>\n<p><strong>17th January<\/strong><br \/>\n\u2981 ICICI Prudential Life Insurance<br \/>\n\u2981 Bank of India<br \/>\n\u2981 Metro Brands<\/p>\n<p><strong>18th January<\/strong><br \/>\n\u2981 IndusInd Bank<br \/>\n\u2981 Persistent Systems<br \/>\n\u2981 Central Bank of India<\/p>\n<p><strong>19th January<\/strong><br \/>\n\u2981 Hindustan Unilever<br \/>\n\u2981 Asian Paints<br \/>\n\u2981 Hindustan Zinc<br \/>\n\u2981 Havells<\/p>\n<p><strong>20th January<\/strong><br \/>\n\u2981 Reliance Industries<br \/>\n\u2981 JSW Steel<br \/>\n\u2981 HDFC Life Insurance<\/p>\n<p><strong>21st January<\/strong><br \/>\n\u2981 ICICI Bank<br \/>\n\u2981 Kotak Mahindra Bank<br \/>\n\u2981 Ultratech Cement<\/p>\n<h4><span class=\"ez-toc-section\" id=\"ABOUT_THE_AUTHOR\"><\/span>ABOUT THE AUTHOR<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Sagar Wadhwa<\/p>\n<p>Sagar Wadhwa is a Senior Equity Research Analyst who is a key member of the research team at Univest. He has extensive knowledge and expertise in the stock market, financial analysis, and investing and uses this expertise to provide valuable insights to the research team.<\/p>\n<p>Note \u2013\u00a0<i>This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/i><\/p>\n<p><em>You may also like:\u00a0<a href=\"https:\/\/univest.in\/blogs\/weekly-update-31st-december-2022\/\">Weekly update 31st December <\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NIFTY50 The index has been hovering near its 100-DMA for the last three weeks with a negative bias. Nifty began the week on a higher note as the index reclaimed its 100-DMA. Over the next few sessions, the index traded near its 100-DMA and breached it. On Friday, the index found good buying support and<\/p>\n","protected":false},"author":10,"featured_media":26913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[707,708],"class_list":["post-12873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bank-nifty","tag-nifty-50"],"metadata":{"_edit_lock":["1675266248:10"],"_edit_last":["10"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_focuskw":["Weekly Update: 15th Jan 23"],"_yoast_wpseo_metadesc":["The index has been hovering near its 100-DMA for the last three weeks with a negative bias. Nifty began the week on a higher note as the..."],"_yoast_wpseo_linkdex":["62"],"_yoast_wpseo_content_score":["60"],"_yoast_wpseo_estimated-reading-time-minutes":[""],"_yoast_wpseo_wordproof_timestamp":[""],"_yoast_wpseo_primary_category":["24"],"nectar_blog_post_view_count":["201"],"_thumbnail_id":["26913"],"rank_math_primary_category":["24"],"rank_math_description":["The index has been hovering near its 100-DMA for the last three weeks with a negative bias. 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