Eye of God, or Helix Nebula
There’s news about a new photograph of the Helix Nebula, that looks like an eye, and is being nicknamed the Eye of God.
The visual magnitude is about 7.6, and the angular diameter is 32.7′ – that’s a little more than the full moon’s diameter in the sky. Hence this should be fairly easy to spot with a low power telescope or binoculars – the latter are better because you need a wide field of view to capture the haziness. The low south location might make it difficult from Delhi etc due to the pollution and ambient lights in the city. Also its already beginning to set around 9PM these days so its close to the west horizon again. (By the way I don’t think you should expect to see the bright colors you see in the news pic above.)
Here’s how you could locate it in the sky.
The Helix nebula is the pink square on the bottom right. It falls in the Aquarius constellation. If you can’t find that, you could start with Orion (middle left in the pic). There’s also Jupiter in the bottom right (the last symbol, 
) which is very easily spotted these days (brightest star-like above the western horizon, easily visible just as the sun starts to set). This is a link to wikisky where you could do better to try pinpoint the location.
There are two other objects you could try – marked in squares on the top of the pic – the left one is Pleides (or seven sister, a collection of 200+ stars that appears to form a nice pattern. Easy to spot with naked eye), and the right one is the Andromeda galaxy (Need small scope).