I have performed Elliot Wave Theory analysis on BAJAJFINSV daily time frame. The internal wave counts are not shown on the charts as they get cluttered. Wave 2 retraced 0.65% Wave 2 is a sharp correction Wave 3 was calculated with the Fib Extn tool starting from wave 1—end of wave 1—end of wave 2. It is precisely 1.618%, which signifies that wave 3 is extended. However, the target for wave five should be between 0.618 and 1% when you project it from the start of wave 1—end of wave 3 to the lowest bottom of wave 4 (mostly sideways).
Alternate for corrective wave If wave 2 of an impulse is a sharp correction, expect wave 4 to be a sideways correction and vice versa.