By the way it is the prices which come down, never the industry. So don t get confused between prices and fundamentals. These only provide opportunities for the brave. Gul Teckchandani says The worst time of the market sentiment is the best time to invest in stocks. My solemn assurance to you that 1.2 billion Indians, irrespective of where the stock market goes are not going to be dead.
Sentiment provides both exit and entry opportunities.
When everybody and his mother is telling you that the world is going to come to an end you better start putting your money to work, however, with a time frame in mind. Because at the bottoms there is so much negative news it is very unlikely that even if you develop the courage to buy the stocks you will be able to hold them. With the slightest dip in the index you would sell your stocks. Which in turn means cement and steel have to do well. This is not a recommendation for the stocks.