Yes, when we have a long term view, sometimes we get good opportunities, and these sometimes may not available for much time, so I guess psychologically, it is better to take advantage of such opportunity and add some to the existing position, so as to not feel about losing such an opportunity if the price moves up later. And of course, the fall may extend for long time, and if the bet is based on fundamentals, then I guess buying more for a lesser price than before makes sense. Positions can be built this way too.
For short term though, such falls could make a big dent in the profits, or can even be termed as stop losses.
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