One thing has been seen in the Indian markets is that sharp corrections are normally the best time to buy for the long term. Of course, you may buy today and prices may go down again tomorrow. But you know for sure that you are buying most companies at much cheaper valuations than what you have got in the past. That is the biggest consolation you have. Of course, the rule is not to jump and put all your capital in one go. If you want to allocate 100 in the equity markets then start putting 20 today. Gradually use every dip to keep buying. This is certainly a great time to buy quality stocks but be careful and don’t get caught in junk stocks or stocks that have doubtful credentials. They could underperform even in good markets so you must be extremely careful.