{"id":13914,"date":"2023-07-01T22:21:55","date_gmt":"2023-07-01T16:51:55","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=13914"},"modified":"2023-07-01T22:24:00","modified_gmt":"2023-07-01T16:54:00","slug":"weekly-update-20","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/weekly-update-20\/","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_1688230436425{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-20\/#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-20\/#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-20\/#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-20\/#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-20\/#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-20\/#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-7\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-20\/#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>The Nifty concluded the week with a 2.8% gain, reaching a new all-time high. Throughout the week, the Nifty remained in positive territory for all four sessions. Additionally, all sectoral indices experienced upward movement, with Nifty Pharma and Nifty Metal demonstrating the most significant advancements.<\/p>\n<p>Currently, the market is in a confirmed uptrend as it crossed the previous high of 18887. MidCaps and SmallCaps are trading near their new highs, and the broader market strength has improved. We will now start calculating distribution days to keep an eye on weakness in the market.<\/p>\n<p>The Nifty index is expected to have a support level of 18800 in the upcoming week, with 19400 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-13915\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204658.png\" alt=\"Nifty 50 \" width=\"1530\" height=\"825\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204658.png 1530w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204658-300x162.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204658-1024x552.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204658-768x414.png 768w\" sizes=\"(max-width: 1530px) 100vw, 1530px\" \/><\/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 2.58% positive, at a new all-time high. After four weeks, Bank Nifty has given a breakout, and now it is important for it to lead and outperform the market. Axis Bank is trading near an all-time high and can potentially lead from here.<\/p>\n<p>For the upcoming week, the Bank Nifty index is expected to have a support level of 43500, with 45500 acting as resistance on the flip side.<\/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-13916\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204959.png\" alt=\"Nifty Bank\" width=\"1530\" height=\"830\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204959.png 1530w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204959-300x163.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204959-1024x556.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-204959-768x417.png 768w\" sizes=\"(max-width: 1530px) 100vw, 1530px\" \/><\/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 Pharma 1.46% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Biocon 12.07% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Glenmark Pharma 6.79% Up<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 Sunpharma 6.07% Up<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-13917\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-205554.png\" alt=\"Nifty Pharma\" width=\"1531\" height=\"826\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-205554.png 1531w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-205554-300x162.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-205554-1024x552.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-01-205554-768x414.png 768w\" sizes=\"(max-width: 1531px) 100vw, 1531px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">(Nifty Pharma Weekly Chart)<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Key_News\"><\/span><strong>Key News<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Bharat Petroleum board approves fund raise of up to Rs 18,000 crore via issue of equity shares.<\/li>\n<li>Multi Cmod.Ex.Of India has decided to extend support services being rendered by 63 Moons for six months starting July 1. Overall consideration for the same is Rs 125 crore per quarter.<\/li>\n<li>Sbi Life Insurance Co board approves re-appointment of Mahesh Kumar Sharma as MD and CEO.Power Grid Corp. The India board approves investment proposals worth Rs 389 crore.<\/li>\n<li>Canara Bank (Nse) board approves raising capital of up to Rs 7,500 crore via debt.<\/li>\n<li>Tata Communications(Nse) to acquire Kaleyra in an all cash deal at $7.25\/share. The aggregate consideration is expected to be around $100M.<\/li>\n<\/ul>\n<h3><\/h3>\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\/weekly-update-19\/\">Weekly update\u00a0<\/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_1688230436425{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}&#8221;] NIFTY50 The Nifty concluded the week with<\/p>\n","protected":false},"author":10,"featured_media":26920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[707,708],"class_list":["post-13914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bank-nifty","tag-nifty-50"],"metadata":{"_edit_lock":["1692872334:10"],"_edit_last":["10"],"_thumbnail_id":["26920"],"_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%% %%page%% %%sep%% %%sitename%% Weekly update"],"_yoast_wpseo_metadesc":["The Nifty concluded the week with a 2.8% gain, reaching a new all-time high. 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