The Nifty Midcap 100 PE is at par with long-term averages, indicating opportunities at reasonable valuations. The market is going through consolidation after reaching 20,200 on the Nifty50. Rising interest rates pose a threat to equity markets, but inflation levels have peaked. The India-Canada standoff is more political than economic, with limited impact on long-term investments. Smallcap valuations have become relatively expensive, while midcaps still offer opportunities.