Market on 26Sep08

Global cues indicate a negative opening of 1%. Day’s range is expected to be 4070-4200. Key supports and resistances on nifty are seen at 4025/4060 and 4160/4220. Inflation data came marginally better than expected at 12.14% and hence may be a non-event.

Can someone please explain this?

1) Why would any one buy a 2nd hand and jaded-looking Perry Mason for INR 85 from the Redi-side in Basant Lok complex when one can get a Brand New copy (different publisher though) for INR 75 from Om Book shop inside the same complex!
2) Why does Khan Market parking lot of tons of sign boards announcing "Free Parking. Do not tip the assistants." Yet the assitants run upto your car and nearly stop you if you do not already have some token money out to dole out in charity.

Markets for 09sep08

Indian markets rallied yesterday in view of NSG (India) and F&F takeovers (US).
Key resistance and support on Nifty for today are 4430/4460 and 4520/4560. Key levels to look out for are 4500. One could expect profit booking in the market to take place at these levels.
Sterlite board is mulling a restructuring proposal today and hence it may continue to rise further.

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