Oil prices fell weighed down by an unexpected increase in US crude inventories and a drop in orders for durable goods. According to the weekly update by Energy Information Administration, US crude stockpiles rose by 7.3 million barrels in the week ended July 23. The official data came a day after the American Petroleum Institute reported a 3.1 million barrel-increase in oil inventories. Now support for the crude is seen at 3575 and below could see a test of 3538. Resistance is now likely to be seen at 3644, a move above could see prices testing 3676.
Silver slid fallin
Gold 
Hindustan Zinc has announced its financial results for the June quarter of the fiscal year 2010-11. According to the report, the Vedanta group company has registered a significant 24% hike in the net profit in this quarter. Hindustan Zinc has posted a net profit of Rs 891 crore for the April to June quarter that ended on 30th June, 2010. 
Glenmark Pharmaceuticals has declared its April-June quarter financial results for the fiscal year 2010-11. The pharma company has announced that it has registered an impressive three fold net profit rise in the quarter under review. 
Sunil and Saloni Aswani starrer Telugu movie Maryada Ramanna was released last week on July 23. The team of the movie is on its success tour, which started on July 26. They were supposed to visit the Telangana region today as per the schedule but they had to postpone it to the second week of August as they failed to obtain the required permission.If you’re just starting out in forex, the odds are stacked—not because the market is out to get you, but because many new traders walk in with the wrong mindset.
News in Focus
Featured, India Business, Analyst View, BOB Capital Markets, Bullion Update, India, Kalyan Jewellers
BOB Capital Markets has upgraded Kalyan Jewellers to BUY from HOLD with a target price of Rs 786, implying about 18% upside from Rs 664.
Featured, India Business, Analyst View, Stock Markets, ICICI Securities, India, Steel Sector, Tata Steel
ICICI Securities has retained its BUY call on Tata Steel with a revised sum-of-the-parts target of Rs 230, implying 24% upside from Rs 185 over 12 months.
Axis Securities has kept its BUY call on Pricol Ltd with an unchanged target price of Rs 935, about 28% above the Nov. 5 closing price of Rs 728.
Featured, India Business, Analyst View, Auto Sector, BOB Capital Markets, India, Mahindra & Mahindra
BOB Capital Markets has retained its BUY rating on Mahindra & Mahindra but trimmed its target price to Rs 4,387 from Rs 4,530, still implying about 40% upside from the Rs 3,128 market price.
Featured, India Business, Analyst View, Stock Markets, ICICI Securities, India, Retail Sector, Swiggy
ICICI Securities has maintained its BUY rating on Swiggy but cut its target price to Rs 400 from Rs 520, still implying about 90% upside from the Rs 211 market price.
Main Regional Stories
ICICI Direct, the retail research arm of ICICI Securities, has maintained its BUY call on Stylam Industries with a revised 12-month target price of Rs 3,750, about 21% above the current market price of Rs 3,105.
ICICI Direct, the retail research arm of ICICI Securities, has reiterated its BUY call on Saregama India with a 12-month target price of Rs 740, about 16% above the Rs 638 market price, after the RPSG Group music label posted a robust September qu
Featured, India Business, Analyst View, Stock Markets, BOB Capital Markets, Cera Sanitaryware, India, Mumbai
BOB Capital Markets has maintained its BUY rating on Cera Sanitaryware with a target price of Rs 6,437, implying about 34% upside from the Nov. 5 closing price of Rs 4,802.
ICICI Securities has maintained its BUY call on Power Grid Corporation of India, trimming its target price to Rs 350 from Rs 360, which implies about 35% upside from the current market price of Rs 260.
