Minor wave 5 seems to be completed at 12430.50.
if this turnout to be true Nifty is completing multiple degree waves here.
A minor wave 5, an intermediate wave (5) and a Primary wave [3[.
Minor wave 5 is completed in 5 candle and corrected swiftly in 3 candles,
to break down the assumed 2-4 line, can be taken as sign of completion of trend.
In this case wave wave [3[ is extended here and can retrace to wave [4[ zone ,that is below 9119.
Another view is that we are still in minor wave 4, is forming an abc pattern may conclude
a=c 10637 or an elongated c even developed,1.62% of a = 10070 around.
Then the 2-4 line can be redrawn again to see a further jump towards 13000.
Note:This is my prime view of count, which I am posting here for the past two years.
2-4 line support and 50% retrace level is 7548
a 50% retracement level is at 7548 marked on updated chart.
it must touch or even may cross little the hypothetical 2-4 line marked blue at bottom, for other technical reasons.
( The angle bracket doest show up in this forum field.)