Market Near Bottom? Choksey Sees Nifty 22,800–23,200 Bottom Zone
Market Near Bottom? Choksey Sees Nifty 22,800–23,200 Bottom Zone
Geopolitical tensions weigh on markets as DRChoksey’s Deven Choksey outlines why India could hold steady and where opportunities lie.
Geopolitical tensions in West Asia are casting a shadow over global equities, keeping market sentiment fragile as investors await signals on energy prices and risk appetite. Against this backdrop, India’s growth story appears relatively resilient due to its balanced diplomatic stance with major powers and a robust domestic economy. The conversation around fair valuation and selective opportunities is now taking center stage for long-term investors.
Deven Choksey, managing director of DRChoksey FinServ, notes that India’s diplomatic posture—maintaining constructive ties with Russia, Iran, Israel and the United States—helps cushion the impact of regional conflicts. He highlights that valuations have already corrected during the recent slide, creating selective opportunities rather than broad-based bets for those with a long-term horizon. In his view, the Nifty 50 could be forming a bottom in the zone of 22,800 to 23,200, with any easing of geopolitical tensions potentially aiding a technical recovery.
On stock selection, Choksey argues that a nearly double-digit correction opens doors for quality businesses with strong order visibility and solid earnings prospects. He points to Larsen & Toubro as a prime example, given infrastructure growth and potential reconstruction opportunities in the Gulf region, including the United Arab Emirates. The takeaway is clear: with valuations cooling to more comfortable levels, investors should focus on fundamentally strong large-cap and select mid-cap names, rather than chasing broad market bets.
For those looking to participate, the recommended approach is gradual deployment through systematic investments rather than lump-sum bets. SIPs or staggered investments help navigate volatility while staying true to a disciplined, research-driven framework. Beyond stock picking, investors should monitor crude oil trends, inflation dynamics and the evolving geopolitical landscape, all of which can sway market direction in the near term.
In summary, while near-term uncertainty persists, the message remains cautiously optimistic: if tensions ease and growth remains intact, selective opportunities in quality companies could yield constructive returns for patient investors who stay disciplined and avoid panic selling.
