I am watching the following stocks traded on the Indian markets closely. I will consider taking medium term(1-2 years horizon) positions in these stocks after 10-20% falls in prices.
The List

Reliance Industries – Petroleum Refining and Petrochemicals
Tata Motors -  Automobiles and parts (cyclical)
Tata Steel – Metal (Cyclical)
Tata Consultancy Services – IT
Infosys – IT
ICICI Bank – Finance [...]

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