India's currency has strengthened as well as the stock market which is up 14%. Emerging markets are performing best since January 2012. In USD terms, investors that bought Indian stocks, are up about 20%, in few months. That is fast, and that is why these markets are overbought near term.
Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.