Indian equity markets have demonstrated notable resilience amidst geopolitical tensions and fluctuations in crude oil prices, with market expert Nischal Maheshwari suggesting that the worst may be priced in. He recommends a 'buy on dips' strategy, indicating that investor confidence is high regarding a resolution between Iran and the United States. Maheshwari points out that despite a disappointing performance from State Bank of India, private sector banks like HDFC Bank and ICICI Bank present better investment opportunities due to attractive valuations. While the automobile sector has seen a rally, he warns that passenger vehicle makers may face challenges as benefits from lower GST rates are largely priced in. Conversely, the commercial vehicle sector continues to strengthen, presenting potential for outperformance. Maheshwari also highlights the defence sector's strong quarterly numbers and order books, making it an attractive long-term investment. However, he expresses caution regarding the real estate market, citing potential inflation and interest rate pressures that could affect housing demand. As investors navigate these complexities, a focus on quality and earnings visibility is becoming increasingly important.