There was a bit of confusion on the Wolve wave pattern between different memebers. But then i regenerated the view of WW as follows. Nifty was continuously on an uptrend before there was a minor halt, but then nifty proceeded to the top. So I am taking this point as the beginning of WW.
Also, I have considered the ichimoku pattern here.
The current path is shown in violet color. The candles will enter the cloud where it will touch the lower band of the cloud before there is a meaningful bounce back. This is also supported by the lines drawn across point 1 and point 3. The target line drawn across point 1 to point 4 moves towards the target of 5700.
So i feel nifty will be going down till 5080 before it makes a bounce back.