Here is a chart of Indian Nifty in Dollar adjusted value.

As is obvious from the above chart, Nifty has not even crossed the June highs, leave alone the April highs. And this could be the completion of a right shoulder in a head and shoulder top. While Nifty could very well continue to push higher and cross the highs of April in dollar terms- but other technical evidences at the moment do not favour that scenario. I guess by the time I post my next update from Singapore, markets should  have more evidence of which way they are headed.

Good trading to all!