Currently the Market is in a confirmed Uptrend. MidCaps and SmallCaps are trading near their new highs and broader market strength has improved. The current distribution day count is 1 which was on Wednesday.<\/span><\/p>\n The Nifty index is expected to have a support level of 18900 in the upcoming week, with 19800 projected to act as resistance.<\/span><\/p>\n Nifty50 Weekly Chart<\/span><\/p>\n BANK NIFTY<\/b><\/p>\n The Bank Nifty ended the week with a marginal decline of 0.28%. Notably, PSU Banks were the primary contributors to this negative performance. However, we hold the view that PSU Banks have the potential to reverse this trend and emerge as the leading performers of the upcoming week. This optimism stems from their recent breakout on the weekly time frame, followed by a successful retest of the breakout level. Consequently, we anticipate a fresh rally to commence from this point onward.<\/span><\/p>\n For the upcoming week, the Bank Nifty index is expected to have a support\u00a0 level of 43700 and on the flip side, 46000 to act as a round level resistance.<\/span><\/p>\n Bank Nifty Weekly Chart<\/span><\/p>\n Top Performing Sector of the Week<\/b><\/p>\n <\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 –\u00a0 \u00a0 Mphasis 10.24% Up<\/span><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 –\u00a0 \u00a0 Infosys 7.2 % Up<\/span><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 –\u00a0 \u00a0 Tech Mahindra 6.28% Up<\/span><\/p>\n (Nifty IT Weekly Chart)<\/span><\/p>\n Worst Performing Sector of the Week<\/b><\/p>\n <\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–\u00a0 \u00a0 Bank of Baroda 5.07% Down<\/span><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–\u00a0 \u00a0 UCO Bank 3.47% % Down<\/span><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–\u00a0 \u00a0 Maharashtra Bank 2.66% Down<\/span><\/p>\n (Nifty PSU Banks Weekly Chart)<\/span><\/p>\n Key News<\/b><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" NIFTY50 Nifty ended the week at record High (19565) and gained 1.20% this week. India\u2019s June WPI inflation came in at -4.12% versus -3.48% a month ago. Wholesale inflation remained in negative territory for the third straight month. Nifty PSU Bank was the top decliner and Nifty IT and Metal were the top gainers this<\/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":[707,708,828],"class_list":["post-13942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bank-nifty","tag-nifty-50","tag-nifty-media"],"metadata":{"_edit_lock":["1692872342:10"],"_edit_last":["8"],"_thumbnail_id":["26917"],"_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":["NIFTY50"],"_yoast_wpseo_title":["%%title%% %%page%% %%sep%% %%sitename%% NIFTY50"],"_yoast_wpseo_metadesc":["The week concluded with the Nifty experiencing a 0.74% increase in gains. It commenced on a positive note and remained"],"_yoast_wpseo_estimated-reading-time-minutes":[""],"_yoast_wpseo_wordproof_timestamp":[""],"_yoast_wpseo_primary_category":["24"],"nectar_blog_post_view_count":["133"],"_wp_old_date":["2023-07-09"],"rank_math_primary_category":["24"],"rank_math_title":["%title% %page% %sep% %sitename% NIFTY50"],"rank_math_description":["The week concluded with the Nifty experiencing a 0.74% increase in gains. 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"id":13962,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/13942\/revisions\/13962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/26917"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=13942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=13942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=13942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2023\/07\/Nifty-50.png\")
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