Minyanville's elder statesman Charlie Mangano rightly said "I've been around the block. In the early '70s, Wall Street was over. In the late '80s, the market was dead. In the '90s, we caught the Asian flu. We've been through worse and we'll get through this."

The world is tough and the market is frustrating, but we need such a optimistic view and patience to get through the current volatility...

In case of India.. I think the growth story is still in place... this market downturn has, in fact given a great opportunity to enter into fundamentally sound stocks at a very reasonable valuation... anyone with long term perspective should start buying on every dip.... buy in small quantities... some stocks I can think of are
1. IFCI (around 55-60)
2. J K Cement (around 150-170)
3. NTPC (below 200)
4. Power Grid (below 100)
5. HDIL (around 600-750)
6. Rohit FerroTech (around 65-75)

Happy Investing