Power Finance Corporation – Complex Correction Still in Play

After topping out near ₹580, Power Finance Corporation (PFC) has been locked in a prolonged corrective structure. The price action since mid-2023 suggests a triple correction (W-X-Y-X-Z), with the final leg (Wave Z) now unfolding.

Technical View

• Price broke down from a rising channel and is currently retesting the underside of that channel – a classic setup to watch for continuation.
  
• Wave (c) of Z appears to be in progress, keeping the near-term bias tilted bearish unless price crosses above ₹438.35 (invalidation level).
  
• A potential termination zone lies around ₹250–225, aligning with the highlighted support cluster.
  
• RSI is hovering in the mid-40s, showing lack of upside strength and leaning toward further weakness.
  

Summary
Bias remains bearish while below ₹438.35. A deeper leg into the ₹250–225 support cluster cannot be ruled out before this complex correction completes.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.