Look to book profits at the higher end rather than chasing markets: C K Narayan

C K Narayan, Growth Avenues Asset Advisors in an interview with ET Now talks about the market outlook.

What is the call on markets now?

The market has actually got into a bit of volatility range and I probably expect it to persist through the week. This week is a very news driven week and most of it is coming from overseas. You have this Fed thing going on today, tomorrow, Tuesday, Wednesday and then you have this G20 thing on Thursday, Friday.

So there will be a lot of ramifications from overseas which will keep the market in a fairly choppy range. We might get into a range which would be probably defined by say about 5150 into 5125 on the upper side and somewhere around 5025-5050 on the lower side. So this is a range to trade.

We are currently trading into the higher end of the range. Probably today may be a day for the higher end of the range to be established. At higher ends, one should be looking to take profits and not really chasing the market on the upside.