Indias Nifty 50 - Even more favourable levels

Well what can I say! Considering that most equity markets have had a down week, I think the fall seen in the Indian markets is quite reasonable considering the Satyam news. I continue to be bullish emerging markets, although not all of them, and think that just because 1 in 50 companies has been practicing fraudulent accounting procedures does not imply that they all are. If we assume that this is an isolated case, then this is just a better opportunity to buy into the 50 stock NSEI index. Furthermore, it is my understanding that Satyam will be removed from the index on Monday so it should not really have a long term effect. My prior projections still hold, and lower prices just make the stocks more attractive for a medium term trading opportunity.