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Can Profit Booking Come In Bank Nifty on Monday?

Monday is the day when profit booking in Bank Nifty might come.

Banknifty has been setting day highs and day highs for the last three consecutive days. Often whenever this happens in the market, people are ready to book profits in the market in the next few days.

Similarly, after consecutive day highs on Monday, Tuesday, and Wednesday, 11th April is a public holiday on the day of Eid, so as soon as the market opens on 12th April, both investors and traders will be cautious.

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Bank Nifty Last Three Day’s Consecutive Highs

On Monday (8 April 2024) – 48716

On Tuesday (9 April 2024) – 48960

On Wednesday (10 April 2024) – 49057

Also, on Wednesday 10 April 2024 same weekly expiry was for both Nifty and Bank Nifty. 

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Monday Mood of Bank Nifty

If the market remains range bound even on 12th April, then there are chances of profit booking in Banknifty or Nifty again on Monday i.e. 15th April. Traders need to be cautious in the coming few days.

Disclaimer: We are not SEBI-registered research analysts. Here, we are not giving or suggesting any type of stock buying or selling recommendations. This article is purely based on educational purposes only.

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