Indian equity markets on 25Feb09

Markets are expected to open up ~1-2% based on global cues. Asian markets are trading in the green with both Nikkei and Hang Seng trading over 1%. The dow also closed over +3%.
As mentioned yesterday,the markets saw a bounce back to 2730 levels ona closing basis due to the tax stimulus given by the government(ignoring S&P's negative outlook on India). 2750/60 is a crucial leveland beyond this markets are likely to test 2800.Any cross above 2800 will reverse the current short-term bearish trendand markets may test higher levels. For today, key resistance levels are at 2760/2790 and support levels are 2650/2710. FO expiry tomorrow is crucial and we may see some short-covering therefore keeping the bullish bias - if it sustains today.

Mera Telephone Nahi Lagta

MTNL may be offering attractive packages with respect to broadband and mobile telephone services. However, my personal experience with the MTNL broadband is quite a sob story.

For no reason, the broadband can disconnect when it so desires. This is particularly true when you are half-way through downloading that huge PDF report or when you need to sent some urgent e-mail. What a co-incidence, MTNL just knows how to time your work to have a 100% hit rate.

Early mornings and late nights are probably the times when you can reasonably trust the broadband. But then, why would I need a broadband during those non-peak hours anyway?