Volatility may remain high: RBS

Here are experts equity calls for the day on how the markets are expected to trade:

Emil Wolter, RBS: Typically, recession-linked bear markets for last 16 months, so far this one has lasted only five. The typical sell-off amounts to 43% Vs 21% decline till date. Investors should focus on preserving capital. Volatility may remain high given the frequency of policy meddling and high levels of leverage.

Laurence Balanco, CLSA: Bouncebacks have carried price action back towards resistance zones. The Nifty continues to form an impressive short-term basing pattern between 4,718 and 5,173. A break above 5,173 resistance would project a minimum upside target of 5,627.