Thats absolutely right. But we do the opposite. Many an Investor would currently be committing, what I would call classic mistakes. Many investors have got out of IT and and entered infrastructure and cap goods shares.
Long term is basically contra play, where one buys beaten down stocks and goes against the trend. FOMO of Defence/PSU stocks and PSU Banks stocks in particular has caused investors a lot of chagrin, and made them change their plans of buying buying IT now that it is beaten down.
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