As volatility in the Indian stock market increases, Rahul Roy Chowdhury, CEO of Geojit Financial Services, highlights the need for high-net-worth individuals (HNIs) to maintain disciplined asset allocation. He identifies concentration risk, often arising from recent winners in portfolios, as a significant threat. Chowdhury recommends a systematic approach of reviewing, rebalancing, and communicating with clients to avoid emotional decision-making during market fluctuations. He suggests that the current market environment is more favorable for selective investments, particularly as valuations improve. While stock picking can be advantageous during consolidation phases, he also advocates for maintaining a portion of the portfolio in index funds. For commodity investments, Chowdhury advises that they should be used to diversify and hedge rather than dominate the portfolio, with a focus on precious metals through multi-asset funds. He encourages HNIs to consider global equities, allocating about 15-20% of their portfolio to spread risk and enhance returns. Ultimately, a balanced mix of domestic and global assets, alongside a clear understanding of alternatives, is essential for resilience in any market cycle.