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Market to remain volatile on RBI policy: CK Narayan

CK Narayan, Growth Avenues Asset Advisors, in a chat with ET Now, gives his views on market outlook.

It has been a day of volatile trade. We saw a huge cut on the back of RBI’s move to hike policy rates and that now we have almost recovered most of those losses.

It has been extremely volatile day. We did open better initially but post the cut there was this knee-jerk reaction, which again seems to have got stemmed. So volatility is here to stay. Typically volatility happens at a kind of heightened level when we are trading near the higher end of the range and that we certainly are, compared to 4700, we are almost 500 points up from that range. So we should be looking for levels to exit. This is what we were looking for over the past several days of sustained bullishness. Now it is actually time to tighten up the stops and hold your long positions, not really look to create fresh ones.
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