New Delhi, Feb 24 (IANS): Even as the equity markets are expected to be volatile in the next few days, there is nothing to worry for long-term investors, said Ravi Singhal, Vice-Chairman, GCL Securities.

"Market has already declined 3 per cent on Russia's action, now it will depend on how the US responds to it. If the US sends military support to Ukraine, it could be very negative to the market, but there is very less possibility of that. If Russia demilitarizes Ukraine and stops here, we don't see any big downfall from here," Singhal said in a note.

Thus, investors should "wait and watch" and stay away from new investments but at the same time should hold their portfolio and not take the panic selling route, Singhal added in the note.

According to Ravi Singh, Vice-President and Head of Research- Shareindia: "The selling may continue for a more correction of 8-10 per cent in the benchmark indices."

"Nifty may touch the level of 15,500 in this scenario. It is advisable that all investors should follow a wait and watch strategy and avoid any fresh entry at the current juncture."

Echoing Singhal's perspective, Singh added that long term investors having an investment horizon of 3-5 years will get a good opportunity to avert their portfolio, once the global situation stabilizes.

On rising crude oil prices, Singh said: "The higher crude oil prices might severely impact the Indian economy by increasing its current account deficit and create pressure on the value of the Indian rupee (INR) in the global market. The inflation may also increase further as a 10 per cent increase in crude oil will lead to an increase in the Wholesale Price Index (WPI) in India by nearly 0.9 per cent, hence a significant impact on CPI also."