Power Finance Corporation: Anticipated Happened and Neo Wave Extracting Triangle

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 PFC hourly chart anticipated on 24th January 2022


PFC hourly chart happened on 28th February 2022


In my previous update on PFC, I had mentioned that, "PFC is set to plunge till 105-104 levels from current levels over short to medium term."

The stock faltered till 106.9 from 117 gaining 8.54% over a months time. The level of 106.9 is close to my mentioned level - Anticipated Happened

To view my previous article on PFC, click on the below mentioned link

https://www.marketanalysiswithmeghmody.com/2022/01/power-finance-corporation-elliott-wave.html

Prices can resume the downtrend as the major trend continue to be negative and can move back till 104-105 levels over short term.

As per Wave theory, prices formed a Neo Wave Extracting Triangle in wave b and it is now moving or completed wave c lower. As far as prices continue to persists in the falling channel the bias remains negative.

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