On the long-term chart of BPCL
the entire consolidation of the last few years is a 4th wave triangle pattern
. Triangles themselves involved 5 waves to be marked as A-B-C-D-E
, and in this case wave E has still not developed to complete the structure. This leaves open the potential for one last retest of the lower trendline near 277 before wave 5 up can start.