Before you can complete the installation, make certain you have unpacked the entire package. Extract the package downloaded from ThemeForest.
Uploading the theme
WordPress Theme Manager - please go to Appearance > Themes > Add new > Upload, select the zipped theme folder called psychare.zip and press Install Now WordPress will do the rest for you.
Step 1 - Click on Add New button
Step 2 - Click on Upload Theme button
Step 3 - Select psychare.zip file and click on Upload Button