Best Stock & Commodity Tips for Today (7th June)

Benchmark indices were trading strong ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting outcome. The Sensex was up 131.73 points at 31322.29, while the Nifty was up 36.55 points or 0.38% at 9673.70. The market breadth was healthy as 1,426 shares advanced against a decline of 772 shares, while 136 shares were unchanged. M&M, GAIL and Vedanta were the top gainers, while Wipro, TCS and BPCL lost the most. Silver trading range for the day is 40300-41080. 

Commodity Market Update: MCX Gold is 49 points up at 29518 while Silver has moved down 86 points at 40691. Crude Oil is live at 3093 with minor hike of 3 points and Natural Gas is live at 197.80. Silver prices gained as investor sentiment remained skewed toward safe-haven assets ahead of testimony from the former FBI director and British elections. 

BUY SILVER JUL 2017 @ 40550 SL 40350 TGT 40740-40980.

Business Market News -

1. The Power Ministry should push for higher allocation of funds for clean energy like solar and wind,Expecting reduction in MAT in Budget. 

2. The CCEA has approved the continuation of the incentive scheme for marketing and promotion services of raw sugar production. 

3. The Reserve Bank of India (RBI) is getting tougher on extending unlimited credit to the country's banks to try to ensure they push interest rate cuts through the financial system and to stop them from making what one official called a "mockery" of its operations. 

4. Power Grid among four companies bidding for two transmission lines worth Rs 6,000 crore. 

5. Budget 2015 may propose significant changes in income tax and corporate tax structures, to boost savings. 

6. Reserve Bank has allowed foreign investors to invest up to 49 per cent of paid up capital of Bharti Infratel Ltd under portfolio investment scheme.