{"id":19510,"date":"2024-03-09T18:16:30","date_gmt":"2024-03-09T12:46:30","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=19510"},"modified":"2024-03-09T18:16:30","modified_gmt":"2024-03-09T12:46:30","slug":"weekly-update-50","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/weekly-update-50\/","title":{"rendered":"Weekly Update"},"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-50\/#NIFTY\" title=\"NIFTY:\">NIFTY:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-50\/#BANK_NIFTY\" title=\"BANK NIFTY:\">BANK NIFTY:<\/a><\/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-50\/#Top_Performing_Sector_of_the_Week\" title=\"Top Performing Sector of the Week\">Top Performing Sector of the Week<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-50\/#Nifty_PSU_Bank_31\" title=\"Nifty PSU Bank 3.1%\">Nifty PSU Bank 3.1%<\/a><\/li><\/ul><\/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-50\/#Worst_Performing_Sector_of_the_Week\" title=\"Worst Performing Sector of the Week\">Worst Performing Sector of the Week<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-50\/#Nifty_Media_-327\" title=\"Nifty Media -3.27%\">Nifty Media -3.27%<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/weekly-update-50\/#Key_News\" title=\"Key News\">Key News<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NIFTY\"><\/span><b>NIFTY:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The market commenced the week on a neutral note, ultimately closing near a historic high, buoyed by a declining India VIX that sustained bullish momentum. The week also saw a series of back-to-back doji candles, signaling a sense of indecisiveness among both bulls and bears regarding the forthcoming market trend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Throughout the week, the index exhibited a pattern of higher highs and higher lows, steadfastly maintaining its position above crucial moving averages.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This resilience translated into a 0.51% gain for the week, underscored by the formation of a bullish candlestick pattern, indicative of robust buying interest at lower levels. There is a likelihood of further strength in the upcoming week, with support identified at 22,000 and an attempt to breach the psychological hurdle at 21,500.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the options data, maximum Call open interest is observed at 23,000, followed by 22,800 and 22,600, while maximum Put open interest is concentrated at 22,400, followed by 22,300.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-19511 aligncenter\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-weekly-08-03-2024.png\" alt=\"Nifty Weekly chart\" width=\"1257\" height=\"489\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024.png 1257w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-300x117.png 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-1024x398.png 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-768x299.png 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-150x58.png 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-696x271.png 696w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024-1068x415.png 1068w\" sizes=\"(max-width: 1257px) 100vw, 1257px\" \/><\/p>\n<p><strong>Nifty50 Weekly Chart<\/strong><\/p>\n<p>&nbsp;<\/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><span style=\"font-weight: 400;\">Nifty Bank showcased notable outperformance throughout the week, culminating in a minor profit booking during the final trading session, resulting in a weekly gain of 1.16%. Impressively, the index has achieved a positive weekly close for four consecutive weeks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The index is approaching its weekly hurdle and going forward, the immediate resistance is noted at 48,600, followed by a significant hurdle at 49,000. A potential support level is identified at 47,300.<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-19512 aligncenter\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-Bank-weekly-08-03-2023.png\" alt=\"Nifty Bank weekly 08-03-2023\" width=\"1263\" height=\"486\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023.png 1263w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-300x115.png 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-1024x394.png 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-768x296.png 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-150x58.png 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-696x268.png 696w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023-1068x411.png 1068w\" sizes=\"(max-width: 1263px) 100vw, 1263px\" \/><\/p>\n<p><strong>Bank Nifty Weekly Chart<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2><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><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Nifty_PSU_Bank_31\"><\/span><b>Nifty PSU Bank 3.1%<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">-Union Bank 7%<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Bank of India 6.83%<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Bank of Baroda 3.74%<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-19513 aligncenter\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-PSU-bank-08-03-2024.png\" alt=\"Nifty PSU Bank\" width=\"1255\" height=\"488\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024.png 1255w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-300x117.png 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-1024x398.png 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-768x299.png 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-150x58.png 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-696x271.png 696w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024-1068x415.png 1068w\" sizes=\"(max-width: 1255px) 100vw, 1255px\" \/><\/p>\n<p><strong>Nifty PSU Bank chart<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Worst_Performing_Sector_of_the_Week\"><\/span><b>Worst Performing Sector of the Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Nifty_Media_-327\"><\/span><b>Nifty Media -3.27%<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">-Network 18 -11.42%<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-TV 18 Broadcast -10.44<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Nazara Technologies -9.7%<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19514 aligncenter\" src=\"https:\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-media-08-03-2024.png\" alt=\"Nifty media 08-03-2024\" width=\"1256\" height=\"487\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024.png 1256w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-300x116.png 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-1024x397.png 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-768x298.png 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-150x58.png 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-696x270.png 696w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024-1068x414.png 1068w\" sizes=\"(max-width: 1256px) 100vw, 1256px\" \/><\/p>\n<p><strong>Nifty Media Weekly chart<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_News\"><\/span><b>Key News<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rail Vikas Nigam bags an order of Rs 251 crore from Madhya Pradesh Poorkshetra VidyutVitaran Company Ltd. Jabalpur.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Avenue Supermarts has opened a new store at Chettipunniyam, Chennai (Tamil Nadu). The total number of stores as on date stands at 348.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H.G. Infra Engineering has been declared as L-1 bidder by NHAI for a road project of Rs 690 crore.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Macrotech Developers has successfully raised Rs 3300 crore equity through QIP.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Titagarh railsystems has accepted the offer from the Railway Board for manufacture and supply of 4463 BOSM wagons for a contract value of Rs 690 crore. <\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>NIFTY: The market commenced the week on a neutral note, ultimately closing near a historic high, buoyed by a declining India VIX that sustained bullish momentum. The week also saw a series of back-to-back doji candles, signaling a sense of indecisiveness among both bulls and bears regarding the forthcoming market trend. Throughout the week, the<\/p>\n","protected":false},"author":10,"featured_media":26910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[707,708,828,709],"class_list":["post-19510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bank-nifty","tag-nifty-50","tag-nifty-media","tag-psu-bank"],"metadata":{"_last_editor_used_jetpack":["classic-editor"],"_edit_lock":["1710133605:10"],"_edit_last":["10"],"amazonS3_cache":["a:8:{s:73:\"\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-weekly-08-03-2024.png\";a:2:{s:2:\"id\";i:19511;s:11:\"source_type\";s:13:\"media-library\";}s:107:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180552\/Nifty-weekly-08-03-2024.png\";a:2:{s:2:\"id\";i:19511;s:11:\"source_type\";s:13:\"media-library\";}s:78:\"\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-Bank-weekly-08-03-2023.png\";a:2:{s:2:\"id\";i:19512;s:11:\"source_type\";s:13:\"media-library\";}s:112:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180810\/Nifty-Bank-weekly-08-03-2023.png\";a:2:{s:2:\"id\";i:19512;s:11:\"source_type\";s:13:\"media-library\";}s:75:\"\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-PSU-bank-08-03-2024.png\";a:2:{s:2:\"id\";i:19513;s:11:\"source_type\";s:13:\"media-library\";}s:109:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09180934\/Nifty-PSU-bank-08-03-2024.png\";a:2:{s:2:\"id\";i:19513;s:11:\"source_type\";s:13:\"media-library\";}s:72:\"\/\/univest.in\/blogs\/wp-content\/uploads\/2024\/03\/Nifty-media-08-03-2024.png\";a:2:{s:2:\"id\";i:19514;s:11:\"source_type\";s:13:\"media-library\";}s:106:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/03\/09181054\/Nifty-media-08-03-2024.png\";a:2:{s:2:\"id\";i:19514;s:11:\"source_type\";s:13:\"media-library\";}}"],"rank_math_internal_links_processed":["1"],"rank_math_seo_score":["12"],"_thumbnail_id":["26910"],"rank_math_primary_category":["0"],"rank_math_analytic_object_id":["730"],"post_views_count":["356"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/10\/18181926\/portfolio-2-2.jpg","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/19510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=19510"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/19510\/revisions"}],"predecessor-version":[{"id":19516,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/19510\/revisions\/19516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/26910"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=19510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=19510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=19510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}