Nifty May Fall Another 500 Points If Crude Stays High: Sameer Dalal

Indian markets are facing renewed pressure after seven consecutive weeks of losses, with geopolitical uncertainty and elevated crude prices weighing on investor sentiment. Sameer Dalal, President, Natverlal & Sons Stockbrokers says valuations have corrected, but global risks remain a key concern for equities. He warns that if crude prices do not see a sharp correction over the next 10 days, the Nifty could potentially fall another 500 points. He also explains why a sustained rise in crude could impact India, given its dependence on imports across crude oil, gas, fertilisers and chemicals. However, he remains positive on Indian markets from a two-year perspective and prefers waiting for greater clarity before investing.