{"id":13863,"date":"2023-06-18T00:02:24","date_gmt":"2023-06-17T18:32:24","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=13863"},"modified":"2023-06-18T00:30:44","modified_gmt":"2023-06-17T19:00:44","slug":"weekly-update-18","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/weekly-update-18\/","title":{"rendered":"Weekly Update"},"content":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1687026777882{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}&#8221;]<\/p>\n<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-18\/#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-18\/#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-18\/#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-18\/#Bank_Nifty_Weekly_Chart\" title=\"Bank Nifty Weekly Chart\">Bank Nifty Weekly Chart<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-18\/#Top_Performing_Sector_of_the_Week\" title=\"Top Performing Sector of the Week\">Top Performing Sector of the Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-18\/#Worst_Performing_Sector_of_the_Week\" title=\"Worst Performing Sector of the Week\">Worst Performing Sector of the Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-18\/#Key_News\" title=\"Key News\">Key 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-18\/#About_the_Author\" title=\"About the Author\">About the Author<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NIFTY50\"><\/span><b>NIFTY50<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nifty started the week positively, with the exception of Thursday&#8217;s session. The index concluded each trading session on a positive note, inching closer to its all-time high by a mere 61 points. All sectoral indices witnessed gains, except for Nifty Bank, which experienced a slight decline. Notably, Nifty Realty and FMCG emerged as the top performers.<\/p>\n<p>Currently, the market is attempting a rally. If Nifty crosses its previous high of 18887, the market will shift its status to a Confirmed Uptrend. The Nifty index is expected to have a support level of 18430 in the upcoming week, with 19250 projected to act as resistance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nifty50_Weekly_Chart\"><\/span><strong>Nifty50 Weekly Chart<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-13864\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353.png\" alt=\"Nifty\" width=\"1570\" height=\"793\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353.png 1570w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353-300x152.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353-1024x517.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353-768x388.png 768w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191353-1536x776.png 1536w\" sizes=\"(max-width: 1570px) 100vw, 1570px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BANK_NIFTY\"><\/span><b>BANK NIFTY<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bank Nifty ended the week flat, with a negative change of 0.12%. It started the week on a flat note, and on Thursday, we observed some profit booking in Bank Nifty. However, on Friday, the index saw a sharp recovery. The next momentum in Bank Nifty is expected above 44444 which could push it to the 45000 level.<\/p>\n<p>For the upcoming week, the Bank Nifty index is expected to have a support level of 42800. On the flip side, 45000 is likely to act as resistance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bank_Nifty_Weekly_Chart\"><\/span><strong>Bank Nifty Weekly Chart<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-13865\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634.png\" alt=\"Nifty\" width=\"1566\" height=\"793\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634.png 1566w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-300x152.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1024x519.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-768x389.png 768w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1536x778.png 1536w\" sizes=\"(max-width: 1566px) 100vw, 1566px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Top_Performing_Sector_of_the_Week\"><\/span><b>Top Performing Sector of the Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Nifty Realty 3.74% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Godrej Properties 7.46% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Prestige Estate 7.14% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Brigade 6.02% Up<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-13866\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/06\/nifty-realty.jpg\" alt=\"Nifty realty\" width=\"1786\" height=\"782\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/nifty-realty.jpg 1786w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/nifty-realty-300x131.jpg 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/nifty-realty-1024x448.jpg 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/nifty-realty-768x336.jpg 768w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/nifty-realty-1536x673.jpg 1536w\" sizes=\"(max-width: 1786px) 100vw, 1786px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Nifty Realty Weekly Chart)<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Worst_Performing_Sector_of_the_Week\"><\/span><strong>Worst Performing Sector of the Week<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Nifty Bank 0.12% Down<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 SBIN 1.29%% Down<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 IndusInd Bank 1.28% Down<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Federal Bank 1.08% Down<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13867\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1.png\" alt=\"Nifty Bank\" width=\"1566\" height=\"793\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1.png 1566w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1-300x152.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1-1024x519.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1-768x389.png 768w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-17-191634-1-1536x778.png 1536w\" sizes=\"(max-width: 1566px) 100vw, 1566px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Nifty Bank Weekly Chart)<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Key_News\"><\/span><b>Key News<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Mic Electronics has secured two orders worth Rs 10.8 crore from Salem Railway Division. The company stated that the orders will be executed within six months from the date of the issuance of the Letter of Acceptance.<\/li>\n<li>Natco Pharma has announced the successful closure of an inspection and has received an Establishment Inspection Report (EIR) from the U.S. FDA for its drug formulations manufacturing facility located at Visakhapatnam.<\/li>\n<li>Torrent Pharmaceuticals has received an EIR for its oral-oncology manufacturing facility at Bileshwarpura.<\/li>\n<li>Arihant Capital Markets&#8217; board has approved raising funds through the issuance of secured unlisted non-convertible debentures, totaling up to Rs 100 crore, in one or more tranches\/series on a private placement basis. It will offer an interest rate of 9-10% per annum.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"About_the_Author\"><\/span><strong>About the Author<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\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 This channel is for educational and training purposes only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/p>\n<p><em>You may also like:<a href=\"https:\/\/univest.in\/blogs\/can-the-entry-of-new-players-shake-the-dynamics-of-the-paint-industry\/\"> <span style=\"font-weight: 400;\">Can the entry of new players shake the dynamics of the paint industry?<\/span><\/a><\/em>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1687026777882{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}&#8221;] NIFTY50 Nifty started the week positively, with<\/p>\n","protected":false},"author":10,"featured_media":26917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[707,809,716,807,811,725,808,810],"class_list":["post-13863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bank-nifty","tag-brigade","tag-federal-bank","tag-godrej-properties","tag-indusind-bank","tag-nifty-realty","tag-prestige-estate","tag-sbin"],"metadata":{"_edit_lock":["1687259433:10"],"_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"],"_yoast_wpseo_title":["%%title%% Weekly Update %%page%% %%sep%% %%sitename%%"],"_yoast_wpseo_metadesc":["Nifty started the week positively, with the exception of Thursday's session. 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