BPCL is getting ready to ride on the wave 5

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"" DAILY CHART ""
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Here we can see daily chart of BPCL.
right now, in BPCL daily timeframe we can see the bullish trend. By applying EW Theory we get to know that wave 2 has a retracement of 78.6%. the 3 wave is not extensive but normal which has a retracement level of 161.8%. the retracement of wave 4 is 38.2% still the price spends more time on wave 4.
now, if you want to grab the profit, you need to ride on the wave 5 which has a retracement level of 61.8%.
there are high chances of wave 5 to be extended.
longterm take profit can be 520.
Thank you.
we will meet in the next analysis