Mayhem is ruling the world markets today. In panic situations like these valuations or levels do not matter. Gap down opening is a certainty. For long term investors though these panics present great buying opportunities. It does take great courage to go out there and buy but bargains are certainly available out there now. Rather than defensive stocks like FMCG, Lifestyle and Pharma which we have been recommending so far, it makes sense to now be a contrarian and adding infrastructure, reality, commodity and IT stocks. Go for the large cap and stocks of companies enjoying leadership positions.
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