US-Iran Talks Spark Hopes of Stable Oil Prices and Market Rebound

Global market players are eagerly awaiting potential developments in US-Iran talks, which may impact oil prices. As of now, crude prices have corrected sharply over recent weeks, prompting analysts to examine the sustainability of this trend and its implications for inflation, bond yields, and corporate earnings.

N S Ramaswamy, Head of Commodity & CRM at Ventura, believes that if geopolitical supply risks completely neutralize resulting in de-escalation, Brent oil may trade within the $90-$95 per barrel range and WTI within $75-$80 range.

Shrikant Chouhan, Head Equity Research at Kotak Securities, notes that 23,300 on Nifty and 74,500 on Sensex remain strong support zones for traders. If these levels hold, the market could bounce back to 23,500-23,575 (Nifty) or 75,000-75,300 (Sensex).