Crude oil ended higher as energy investors were encouraged by a rally on Wall Street sparked by earnings optimism. The International Energy Agency said that global oil demand will increase by 1.6% in 2011, with demand growth coming entirely from non-OECD nations. Now support for the crude is seen at 3518 and below could see a test of 3450. Resistance is now likely to be seen at 3629, a move above could see prices testing 3672.
Silver rose along with gold on a mix of brightening economic sentiment and investors' willingness to move money into more volatile commodities. Silver opened the day at 28800 and touched a low of 28748, amid dollar infirmity. The greenback’s subjugation briskly impelled the metal to a high of 29156; before siesta drove the commodity to a close of 29044.Now support for the silver is seen at 28809 and below could see a test of 28575. Resistance is now likely to be seen at 29217, a move above could see prices testing 29391.
Gold rose in a rally with other commodities on improving economic sentiment at the onset of U.S. corporate earnings season. Gold opened the day at 18355 and made a low of 18351, as the dollar recoiled after Alcoa’s sanguine economic forecast and Greek debt sales buttressed optimism in the economic recovery. The metal was bolstered by buoyant-fund buying, attaining a high of 18518, as the dollar continued to be surmounted. The commodity suffered however, closing the day at 18448, as funds captured profit. Now support for the gold MCX is seen at 18360 and below could see a test of 18272. Resistance is now likely to be seen at 18527, a move above could see prices testing 18606.
Stock market analyst Shardul Kulkarni has maintained 'buy' rating on Infosys Technologies Ltd stock with long term target of Rs 3000.
Stock market analyst Varun Daga has maintained 'buy' rating on Lupin Ltd stock to achieve a long term target of Rs 2010.
Satellite channel majors Sun Network and Network 18 have mutually made entry into the distribution arena, floating two companies for the south and rest of the Indian market.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.
News in Focus
Featured, India Business, Analyst View, BOB Capital Markets, Bullion Update, India, Kalyan Jewellers
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.
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 pric
Main Regional Stories
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.
Featured, Analyst View, Futures & Options, Stock Markets, Banking Sector, ICICI Securities, India, SBI
ICICI Securities has maintained its BUY call on State Bank of India with an unchanged target price of Rs 1,300, implying about 34% upside from the current market price of Rs 970.
