Behind the Beautiful Forevers: Life, Death, And Hope In A Mumbai Undercity by Katherine Boo

The book, in non-fiction genre, chronicles the life of real people living in a slum in Mumbai and is truly about 'Life, death and hope' in a corrupt society. A well documented work, the book is a must read for every thinking Indian and for that matter, every human being.
First read the Author's note in the last pages. Then read the book.

S&PCNX Nifty for the week 28 May 2012 to 1 June 2012

The Nifty did manage to exhibit some strength amidst the weak technical parameters. We may be headed for a surprise rally next week on account of the triple witching day on Thursday. However the market will continue to be weak unless it trades above the 5120 level conclusively, the immediate resistance is at 4995. On the flip side, the downtrend will continue if the support of 4850 is breached. Investors are advised to resort to staggered buying in key stocks, placing their bids much below the offer price and not to get tempted to buy in case of a sudden upward spurt.

Rupee debacle!!

A scramble for dollars saw the rupee slump to an all-time low of 56.37 to a dollar today. The inflation seems to spiral. Given the way policy makers are behaving and the large current account and fiscal deficits, India seems to be heading for the worst  financial crisis in decades. Sharp devaluation, as sharp as that of 1991, seems to become a reality soon. Are we facing a Greece like situation, especially with the oil bill looking at us at these INR rates!!!!

S&P CNX Nifty for the week 21 May 2012 to 25 May 2012.

The technicals especially the MACD and the Stochastics of the market are suggesting further down move. Nifty may find support at 4825 levels, which if breached will see it go down to 4690 and 4635 levels. However, if the Nifty trades above 4990 levels consistently with good volumes then a short covering rally may take it to 5100 levels. Further dips may be utilized for staggered buying and bargain hunting in key stocks, especially those that have not fallen by as much as the Nifty from its recent lows.

S&P CNX Nifty for the week 14 May 2012 to 18 May 2012

As envisaged in earlier posts, the market tanked to sub 4950 levels. A bounce is expected in the week as the market is in oversold territory. However, it will continue to be weak unless it trades above the 5180 mark conclusively with good volumes. Bargain hunting is advised in key stocks.

S&P CNX Nifty for 7th May 2012 to 11th May 2012.

As envisaged, the INR has weakened a lot and so has the Nifty. Further weakness is expected in the coming week as the bears will continue to hold the market in their sway. 4950 will act as a support.