From recent high 9889 to 9117 on down side nifty has completed an impulse wave and from 9117 corrective wave may be in progress now and after completion of this corrective wave nifty can decline more than 700 points.
The count is incorrect. Waves 1, 3 and 5 should be 5 wave motives where w3 should be an impulse while 1 or 5 can be either impulses or diagonal triangles. Within the iv to v move, where is the 5w move down? I dont see an ending diagonal either. The count needs to be revised.