Buy ICICI Bank on dips: CK Narayan

CK Narayan, MD at Growth Avenues told CNBC-TV18, "From a long-term investors point of view whether ICICI Bank or any other bank or any other set of stocks, there is clearly no disputing the fact that it is a buy on dips and 15 percent of the highs, 20 percent off the highs is a very decent place for people to start nibbling at the stock if not coming into it in some decent way."

"There has to be some amount of conviction in whatever you are doing and this is true whether you are a trader, medium-term investor or a short-term investor," he said.

"We are clearly in a bull market but the bull market is suffering one of those usual reactions and it would take a little bit of conviction to go in there and buy it and not get shaken by the gyrations."