Sometimes I wonder if India has become a crazier country, or somehow thanks to the rise of the all-pervasive TV cameras and OB-vans (I saw a WagonR with a dish on top.. a WagonR!) that all the crazy shit gets reported. maybe it is because of the number of people we have, maybe it has also something to do with the massive wealth disparity in this country, but people are absolutely nutty here.
About the markets, I can't claim to know much, though I am a very diligent student of companies, since that is part of my job. Certain valuations made no sense when the markets were trading at 20K levels, being massively overvalued, insanely in certain cases and you don't need to be a trader to realise that. To the last commenter on this post, I don't just think it is the anchor-boy, who seems to be less on air nowadays for some strange reason, but almost a whole generation of market reporters and even analysts who have grown up in a bull-phase, not just in the markets, mind you.
I do not believe the India growth story is going to get unplugged, but like the rest of the country, the voltage might get very, very low. And the markets are always a sentiment leader, some shit is going to hit the fan in India soon. There might not be a very happy festive season later this year.
(Disclaimer: This blogger has a considerable amount of his savings invested in the markets, but a family friend manages my portfolio, and I have no idea what he does with my money really)