From the weekly chart, India seems to be a little bit in the edge of a hard correction. See the picture below...In spite of my trend follower being about to be in buy mode again (weekly), I see a great bearish divergence between the prices and the RSI indicator! This usually leads to big downside!
As you can see, this divergence is huuuuuge! It begans with May/June 2009 top and continues this week. Jut for your information and in case something bad hits India, my monthly trend follower value for INR is currently 9.23. This value would be a stop boudary for long term investors in India.
Trade safely.
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