USD v INR

In all recorded history there has not been one economist who has had to worry about where the next meal would come from. -- Peter Drucker The so called or self proclaimed Economists should better hang themselves. They have always professed and supported the Efficient Market theory with a zeal which is peculiar to them. Now if the Efficient Market theory is true then Nifty shouldn't fall and Dollar shouldn't appreciate at all. But "Fine Gentlemen" are adding to their Shorts in Nifty Futures and and adding positions in Cash Segments - doing a short hedge. In Currency Markets "The Gentlemen" are indifferent to the Dollar closing above 50 on weekly basis. So dollar is destined to go to 51 and Nifty sub 5100 ( 51? does anybody play satta over here?). But Why? Simply because of this talk about 8% GDP growth and all that rubbish. Since the rate of inflation on YoY basis is in double digits, any growth less than that is a farce - nothing less and nothing more. India is in an Economic turmoil. Moreover one should not expect India growing at more than 6% in the fiscal year 2011 -2012. No I didn't read Business Standard today!!!
UPDATE as on 3:40 PM 15 Nov 2011