In monthly chart wave completed at 6357, wave completed at 2252,
and in wave may be 5th wave is running from 7511.
38% projection of that wave (5) is already achieved and nifty also crossed top of wave (3) and 61% is coming at 13598. so wave (5) completion range can be 12428-13598.
To find out exact top we need to concentrate on the bounce from 7511 in daily chart.
Wave (5) started from 7511 is currently in its 5th wave and 38% is already achieved. 61% is coming at 13437. To find top we have to see wave (5) started from 10790 in lower time frame.
In this 1hour chart it looks like a three wave move and it can be abc or 123. So nifty is in positive zone as long as trading above 12417 which is 38% retracement level.
12626-12417 is immediate support range and nifty negative only if it trades below 12417.
In this 15min chart wave (iii) started from 11756 not even retraced 23% yet so may be wave (iv) is running and wave (v) will start on upside after completion of wave (iv). 12678-12502 is immediate support range and nifty if trades below 12502 then only negative.
And for immediate move lets see decline from 12963 in 5min chart.
In this 5min chart it seems wave (iii) completed at 12963 and wave (iv) is in progress and may complete in retracement range shown in 15min chart.
If nifty trades below 12792 then it can decline towards 12660-12604 and if nifty takes support in 12830-12792 and bounce then it can again go for new high as wave (v).