Time To Buy?

Sensex and Nifty today witnessed their biggest intra day fall in last four months. The fall is was mainly attributed to US sub prime lending market woes. Though Indian market is fairly immune to US SubPrime crisis or a crashing US mortage , it seems that today the markets merely mirrored global ques. This can be mainly attributed to a heavy sell off by FII 's to cover their positions abroad. Indian scripts which are already at records lows , have now reached rock bottom , from where they can only go higher. Most of the scripts are undervalued today and must see an upward movement very soon. Though it is difficult to say how the market will behave tomorrow, but i must say that the markets will surely pickup in the next week irrespective of the global scenario once the domestic funds step in. Tomorrow market is will most probably witness a quite session and if the prices remain steady till midday, then we can expect a small rally towards the end of the day. But again, if the markets open relatively steady tomorrow.. then my best bet is to buy and make positions and hold onto them for about a week. Indian markets are still fundamentally strong and are bound to rise once some clarity emerges.