IFN, the India Fund traded here, is putting in a nasty session so far. Not much has changed with my original thesis that India, by far the strongest BRIC market for a while now, could finally succumb to the weakness in other emerging markets. You can see my original post on the topic here.
Even if the other main BRICs like Brazil and China are close to or right at major bottoms, bear markets tend to “get to everything” before they are done, which means the Bombay Sensex still churning at all-time highs is vulnerable.
Some relevant ETF’s of interest for India traded here: EPI PIN SCIF (Hat Tip: JC Parets @AllStarCharts). Also note that I would not short India ADR’s like REDF SIFY–I would stick to the country ETF’s or broad instruments.
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