Nifty - The Iran-Israel ImpactIran contributes nearly 3.3% of total crude oil production globally.
Nifty has corrected almost 5% due to the fresh conflict escalation between Iran and Israel.
Though I am certain that this isn't the end of the conflict, rather, Iran will have to face the wrath of Israeli counter, but unless any third party gets involved except the US, the correction in Nifty (specifically due to this conflict and upcoming war) seems to have completed.
Though, I am not bullish on the Indian markets in the short term, mainly due to overstretched valuations of MidCap companies, but I certainly believe that the ongoing correction would seize in the upcoming week. I am hopeful that Nifty will end the current calendar year somewhere in the range of 24750 and 25250 (exactly where the markets stand at the moment). So for me, it is now time to take advantage of this fall and pick fundamentally strong long-term opportunities.
This isn't a trading call and is solely my point of view. I have just tried to share my market expectations that I have formed basis my understanding of the economy in general and equity markets in particular.
I understand that this is a very bold call specially when the Index has corrected almost 5% in 5 trading sessions, and there is fair possibility of my expectation going wrong.
But, I also understand that having a point of view is better than going blank, and failing while trying is better than not trying at all.
Consult your financial advisor and do your own research before making any financial commitments.
