Maybe I'll lean a bit more on the short side than the long: Dr CK Narayan, Chart Advise

In a chat with ET Now, Dr CK Narayan, Founder, Chart Advise, says the market is definitely not out of the woods and pressure should probably continue

ET Now: Looking at all the data points available, how do you summarise trade? Tomorrow is an important day in terms of policy. What do you think could happen?

Dr CK Narayan: After such a strong showing on Friday and a very good end to the week, we should have seen better follow-through action today. The absence of that coupled with a continued pressure on the banking pack means the market is definitely not out of the woods and pressure should probably continue. It is quite possible that the near-term rally that we saw from the lows at 7235 up to 7600 almost, may be complete and we may be in for some sort of pull back. There is no big expectations and so there is no build up of position over tomorrow's policy. Consensus seems to indicate status quo. I do not think that is going to cut as any kind of an event. We are going to be pushed or pulled by the local pressures as well as the global triggers. I think we are in for a sort of pullback and I would trade the market in line with that view. I would not be all out long. I would mix it up with shorts, maybe lean just a bit more on the short side than the long side.