The worst fears of the market have come true. In my last blog, I mentioned that if Reliance Power lists below its issue price, it will take the entire market down with it. That is exactly what happened today. The bell has tolled. Not only has the Reliance Power stock opened below its issue price, it has closed at a dismal Rs. 375.
Having said that, this current crash in the market presents a good opportunity to buy select good value stocks at prices you could only dream of till a couple of months back. Gems like JKLAKSHMI CEMENT, for example, are now available at throwaway prices. Long term investors can build their portfolios now.