In daily chart wave (v) started from 6825 is may be completed at 12103 and wave (4) is completed at 10637(But not even retraced 23%) OR still in progress.
In monthly chart wave (v) of (3) is already achieved more than 100% projection and we need to see wave (v) in daily chart for further clarity. declined from 12103 not even achieved 23% retracement.
Most probably wave B completes in this given range and after completion of wave B we can see another downfall of 262 to 322 points in Nifty. But for that trade as of now I have no exact stop loss. In market hours if you get clues for wave B completion then plan a trade with decent risk reward ratio.
"HAVE A NICE AND SAFE TRADING"