Today Indian Market has gone down by 3% at the opening but it recovered and it was around 1.8% down when it was closed. The factor of its going down is the war between US and Iran. Now the thing is, the war is getting dragged and because of that the pressure is building all over the world.
PC: Google.com
The first and foremost problem is the oil. With the Iran going into war, the middle east stopping oil supply, the price if the oil went above $100 per barrel which is huge. And because of that every industry is getting the pressure. Along with that there is AI pressure on the IT which is again feeling oressure. So overall the market seems to be in the bearish phase atleast until we see both sides slowing down.
The latest is that the Israel has hit the oil reserve of Iran which is againa huge news. And we don't know the full effect of it but if it's significant then it's a huge problem. In my case I have been investing in small quantities almost daily in ETF whenever I am seeing the opportunity. I know the marekt can go down from here but this is a good level to start buying the dip. And since I am buying via the ETF, there is no problem because I don't need the money now.
If the war gets dragged on, we can see more bloodbath in the market might be the Indian Market can fall below 22K which will put us in bearish phase fully. Hopefully both the countries cones to senses and stop this nonsense war.
