“This market will top out by February as soon as the last Budget is done with and elections are announced. Then two-three months of volatility as the new government gets formed and during that time, investors will be skittish and new money will wait out those two-three months. Then comes June and we should resume.”
"The global macro is the predominant moving factor and that stays till December 13th at the least; till we get some clarity on the Fed s next move. For some time, you will see rangebound markets. Optimistically, hopefully, by Diwali, we cross a lifetime high on Nifty, but then it comes back down. There are no very strong fundamentals to hold it there and sentiment is quite bearish."
If Iran is seen as helping Hamas in the latest conflict and fresh sanctions are imposed on their oil exports, then crude prices already rising under tight supply situation could see even higher prices, says Deepak Jasani of HDFC Securities.