Nifty Tips For 1 June 2011 | Technical Views of Nifty

After a flat closing yesterday, the markets staged a stellar comeback today as a lower GDP growth in March eased fears of a hawkish policy stance by the Reserve Bank at its policy meet scheduled next month. Finally at the close the S&P CNX NIFTY settled in the green, closing up 87.05 points at 5560.15 which is up 72 points from the day's low.

The Nifty futures closed and settled finally at 5552.20, up by 85.35 points or 1.56 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5570 else below support level of 5410 it would be in a downward trend.

RESISTANCE:  5570 & above this level the next resistance is seen near the 5630 mark.

SUPPORT:  5480 & below this level the next support is seen near 5410 mark. 

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Punjab National Bank was the equity movers for today

The scrip opened at Rs. 1090.00 and has touched a high and low of Rs. 1109.40 and Rs. 1065.00 respectively. So far 110391 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1395.00 on 09-Nov-2010 and a 52 week low of Rs. 933.00 on 26-May-2010.
Last one week high and low of the scrip stood at Rs. 1224.90 and Rs. 1065 respectively. The current market cap of the company is Rs. 34279.08 crore.
The promoters holding in the company stood at 58.00% while Institutions and Non-Institutions held 36.81% and 5.20% respectively.

The Bank’s net profit for the quarter ended March 31, 2011 has increased by 5.80% at Rs 1200.90 crore whereas the same was at Rs 1135.03 crore for the quarter ended March 31, 2010. Its total Income has surged by 32.89% at Rs 8585.65 crore for the quarter under review whereas the same was at Rs 6460.78 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2011, the Bank has registered a growth of 13.52% in its net profit at Rs 4433.50 crore whereas the same was at Rs 3905.35 crore for the year ended March 31, 2010. Its total Income has also grown by 22.99% at Rs 30599.06 crore for the year whereas the same was at Rs 24879.40 crore for the previous year.

On consolidated basis, The Group’s net profit for the year ended March 31, 2011 has increased by 15.16% at Rs 4574.73 crore whereas the same was at Rs 3972.57 crore for the year ended March 31, 2010. Its total income stood at Rs 31206.60 crore for the year ended March 31, 2011 whereas the same was at Rs 25435.74 crore for the previous year.

Punjab National Bank (PNB) has also decided to raise its base rate from 9.50% to 10.00% and benchmark prime lending rate (BPLR) from 13.00% to 13.50%, with effect from tomorrow May 05, 2011.


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