"HDFC Bank, ICICI Bank, SBI, and Axis Bank which constitute the bulk of the banking sector in Nifty 50 look exhausted hinting at profit booking in the near term. Incidentally, 70% of the time in the last 10 years, Bank Nifty has given an average 5% return during the Q4 earnings season. This gives us the hope that profit-booking efforts could be short-lived."
