Prashant Bhansali's Threads

Prashant Bhansali
@prashant280294

#HdfcBank

Weekly chart 4 weeks back
Taking classic support at trendline

Last week candle super bullish after sideways action of 3-4 weeks

Daily chart breakout as well

Heading towards ATH as long as above green trendline

Prashant Bhansali
@prashant280294

#HindCopper
#EW

Looks like 4th wave correction coming to end

If holds support zone 100-114 , can rally higher towards 200 next in 5th wave

Prashant Bhansali
@prashant280294

1 new chart everyday, it could be from any space ~ equities / commodities / crypto / forex / bonds , etc

Will try to do it daily 🙏💪

Here's the first one 👇

SBI vs BankNifty

Ratio chart has given monthly breakout implying SBI could outperform BN in coming months.

#PB365

Prashant Bhansali
@prashant280294

#AxisBank

Seems big move coming up 👀
Looks bullish here at 751
Can do 785/795 in June series and 841 by July series
Invalid below 725

Prashant Bhansali
@prashant280294

Many have asked how to plot ratio charts on trading view, here is an example , suppose you want to see Maruti/Nifty auto:

1. Type the code of these two scripts exactly as shown in TV without any space and use NSE before it

NSE:MARUTI/NSE:CNXAUTO

2. Press enter

(10) Ratio chart (daily) of Auto Index/Nifty

Taking multiple support at crucial level

Autos could start outperformance over nifty as long the support holds , and more fiercely once resistance breached #PB365 pic.twitter.com/ZRSmtGH1ic
— Prashant Bhansali (@prashant280294) June 5, 2021

@Digital_Baba

Prashant Bhansali
@prashant280294

#Nifty
March20 low of 7511, taking 75 days trading cycle , here's an observation

The low or high made on each 75th day, when crossed and closed above/below it , market has moved in that direction for the next 75 days, happened twice so far, next such date to watchout is 16 Feb.

A month gone by and this analysis is working out well so far 😉🤑

Prashant Bhansali
@prashant280294

A small thread on the importance of using log charts:

Rs 100 of 1990 is not comparable with Rs 100 of 2021 in absolute terms

Similarly, price of a stock some years back may not be comparable with today's price in absolute terms.

For EG, SBI quoting at Rs 10 in 2002 is not comparable with SBI quoting at Rs 400 now

For a 100% jump in 2002, stock would have to reach 20 (which is just Rs 10 in absolute terms)

While today, Rs 10 in absolute terms is a meagre 2-3% move

We shall always calculate moves in % terms

For this reason it's preferred to use log charts, especially long term charts

Log charts calculate moves in % terms

Also, if a stock goes from 20 to 200 in one year, even then it's preferred to use log charts.

Prashant Bhansali
@prashant280294

Seeing a lot of people making triangles with just 2-3 touchpoints offlate

An ideal triangle shall have at the minimum 5 touchpoints in order to give a good trending move post that

Here are few examples 👇

Prashant Bhansali
@prashant280294

Bearish wave 3/c down setup on #HdfcTwins for short term

Negation level 1333.30 and 2218.

Prashant Bhansali
@prashant280294

#GreavesCotton
#EW

Here's my view based on EW purely for long term
We could witness a big big 3rd wave in coming months

#investmentidea https://t.co/5laFyd8A7X

(30) #GreavesCotton monthly chart

Big monthly breakout underway
Is it time to move to next orbit higher ? Looks like! #PB365 pic.twitter.com/CB0OtIow7G
— Prashant Bhansali (@prashant280294) June 25, 2021

Prashant Bhansali
@prashant280294

#RIL tgts are 2180 and 1820 positional over next few months if the high made at 2856 doesn't cross.

Not looking good.

#RELIANCE update

Was expecting 5th wave rally towards 2800-3000 as mentioned in previous post

Move played out, but now not worth chasing anymore

Not saying the move is over, it can still go up bit more, but riskreward not good for positional longs now on, I would stay away. https://t.co/eoLshLoLBD pic.twitter.com/G0qZAEBRIX
— Prashant Bhansali (@prashant280294) April 28, 2022

Prashant Bhansali
@prashant280294

#BajajFinance

Falling wedge No.3 😉 (last week posted #CanBank #Larsen)

Prashant Bhansali
@prashant280294

#HdfcLtd

Entering demand zone

Look for reversal signs to enter long side

Prashant Bhansali
@prashant280294

#INFOSYS

Time to be alert on this one on long side

Cmp 1875, expecting wave C move down towards 1600 in coming days

View negates above 1954 previous top

#INFOSYS

100 points dip so far

Moving on expected lines positionally

Prashant Bhansali
@prashant280294

2 bearish setups posted in last few days from Auto sector, #Ashokleyland and #Maruti, and #Escorts just came in watchlist for short side...I'd avoid longs in auto sector for June/July...#CnxAuto near 11400 currently...I think we see good profit booking in June/July in this space

Prashant Bhansali
@prashant280294

#HUL

Rejection from previous resistance at 2425

Rising wedge breakdown as well

Good chances for heading down towards 2106-2047 zone atleast in June series.

Prashant Bhansali
@prashant280294

Same view on #Reliance 👍

5 waves from 1998 bottom
5 waves from 2015 bottom
5 waves from 2020 bottom

All on verge of completion on weekly and monthly charts

**3288** the level above which if it moves, need to re-evaluate analysis

IT'S ALL ABOUT CYCLES
#ElliottWaves https://t.co/gqaP855BxM

#Reliance - Near completion of 5 waves from bottom in 98. Period of 2008-2015 was a clear triangle (wave 4)

Some upside still possible but every rise calls for caution. https://t.co/9xjWbR1wn4 pic.twitter.com/gkz9WiUS2Y
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) June 6, 2022

Prashant Bhansali
@prashant280294

#AdaniEnt
#ElliottWaves

5 waves from March 2020 lows seem done now. Price confirmation is there.

Had a target of 2320+ for final wave 5.5 minimum and then head back to 1600 sub (we did 2420)

Now can head back to 1540 wave (4) low atleast.

Authors Prashant Bhansali