- Summary:
- PFC share rebounds to ₹427.55. Key levels include ₹431.23 resistance and ₹400.00 support. Will PFC sustain its recovery?
Power Finance Corporation (PFC) stocks have bounced back significantly, currently priced at ₹427.55, after receiving solid support around ₹387.90. The stock’s rebound comes after several weeks of continuous selling pressure that had driven it to multi-month lows.
Investors are currently monitoring the stock as it approaches resistance levels, with market sentiment enhancing due to optimism for a wider market recovery.
PFC Daily Chart Technical Analysis
- Current Price: ₹427.55, with the stock recovering from its recent plunge.
- Support Levels:
- ₹387.90: A major support level where the stock found strong buyer interest.
- ₹400.00: A psychological level that adds further downside protection.
- Resistance Levels:
- ₹431.23: The 10-day Simple Moving Average (SMA), acting as the first barrier for bulls.
- ₹433.20: Immediate resistance, which coincides with recent highs.
- ₹486.65: A critical level that marked the peak of PFC’s November rally.
PFC’s Market Moves: A Game of Bulls and Bears
PFC investors might feel like they’re on a rollercoaster, but this isn’t the time to jump off. The ₹387.90 support level proved to be the safety net everyone hoped for, and now, the stock is strapping in for another ride. The big question is whether the bulls have enough energy to push past ₹431.23 and keep the momentum going. Meanwhile, some traders are treating this bounce as a golden opportunity, whispering about potential gains lurking near ₹486.65. With PFC’s price moves drawing attention, it’s almost like watching a game of chess—who will make the next move, the bulls or the bears? Only time (and volume) will tell.
Outlook: Is PFC Ready for a Comeback?
PFC’s share price recovery from ₹387.90 has sparked optimism among investors, but the stock must close above ₹431.23 to gain further bullish traction. A breakout above ₹433.20 would confirm a near-term reversal, with the next target at ₹486.65.
On the negative side, not being able to maintain above ₹400.00 may result in increased selling pressure. At present, traders ought to monitor the ₹431.23-₹433.20 range for indications regarding the stock’s forthcoming movement. Will PFC reclaim its bullish momentum or face fresh resistance? Stay tuned!