India

I have done Brazil, I have done Russia, so naturally India should be next on BRIC.

I have been to India a few times. Being a Buddhist, I have much respect to India's dedication to it development in area of spirituality. Unfrotunately, their indepth nurturing of spirituality is also their undoing for the progress of their country.

I have visited many companies in India. Regardless of New Delhi, Mumbai, Pune or even Bangalore, I have never failed to notice the portrait of Hindu Deities either in picture or statues. Hinduism spreads to every walks of life in India, together with it, the level of content of its people on their social hirarchy.

Even when the caste system has been abolished, it is still very much alive, not only in India, even for those who already migrated oversea. How many cases of honour killings have we witnessed so far in the civilised world today? And those on the hit list are actually either coerced or tracked down and murdered. For some reason the family members's need to feel honoured is more than the respect for life itself.

India was recently on the news as its currency was on the way down when compared to USD. So one may assume that the India's economy would be on the down trend.

But when looking at the chart, surprise, surprise! This index actually did much better than many others such as Hong Kong and Singapore! Not only it it not having its B wave at the 1/2 way mark, it retraced up to the peak of 2008, tested this level not only once but twice!

For the moment, I still can't see a concrete pattern formation, I would only see a potential double top or recetangle. With only 1 peak and bottom between 2010 till now, it is not sufficient to determine its direction. By most, I will only to do a wave count and in my opinion, it is also about time to descent. But before that it may climb above 21,228.

Seems like India's market is much more robust. Probably because of the economy is self sustainable with the demand of a huge population.