if the sound come during idling it most probably ur plunger or LMA (lost motion assembly) - like absorber to absorb the vtec lobe motion.
but if the sound come out like when u try not to downshift gear when passing bumper, i think its normal.
but if happen during normal driving, try to retard a bit ur base ignition timing (set on ur distributor).
knocking actually is not the sound of valve knocking the piston...
the definition of the knocking is,
Knocking (also called pinking or pinging)—technically detonation—in internal combustion engines occurs when fuel/air mixture in the cylinder has been ignited by the spark plug and the smooth burning is interrupted by the unburned mixture in the combustion chamber exploding before the flame front can reach it. Combusting stops suddenly, because of the explosion, before the optimum moment of the four-stroke cycle. The resulting shockwave reverberates in the combustion chamber and pressures increase catastrophically, creating a characteristic metallic "pinging" sound. ...