I put my bike on the rear stand to check my chain, I noticed that its very loose at some spot and when I rotate it , some spot are tight. I sprayed some chain wax on it and re-check it again a couple more times but its still the same. Is it time to change the chain? Its not at a max yet on the marker but close.

 

Yea it is, The chain gets loose and tight in different spots because those are the stretched spots on the chain. If you let it go to much further it will try jumping teeth

Get another chain just to be safe.

 

pull your chain at the middle of the big sprocket. you should not be able to seperate it very far from the sprocket, if so get a new chain.