I applied the Up wave tool to a 60 minute chart of tata Power, and this is what was projected.
What is the message? The instrument is in an uptrend. After an upmove it sees a pullback. (2 after 1, and now 4 after 3). Currently, it is in a pullback of some kind. The main trend which is UP is likely to resume soon.
What should the trader do? identify the point at which the trend becomes uncertain. This is the stop loss. Then decide to buy now, buy at a lower level, or buy on sign of strength. Take the trade, and let market forces decide the outcome.
The complexity of the wave counts is irrelevant here. The main trend was identified with the Wave tool, and trading tactics can then be applied. Listen to the message of the market.