It is difficult to put aside levels on the Nifty and Sensex , but out of froth which was there, a lot of it has already got corrected. Valuations for a long-term investor are becoming attractive across sectors and stocks. There are lots of opportunities for a long-term investor. Of course in the very near term, people would be watching out for the macro data, the Union Budget and news about the global markets. We have seen a trend in FII outflow over the last several weeks and that might continue for some time as money has been moving from emerging markets to the developed markets. This is the reversal of the trade of the last year where emerging markets got much higher flows, but at least the domestic investors would use this as an opportunity to enter the equity markets over the next several months when the valuations are again becoming attractive.