The trajectories of chaotic fluctuations in dilute micellar solutions, which typically occur during the creation and destruction of shear‐induced structures in the flow inception of a 0.4 wt % cetyltrimethylammonium tosilate aqueous solution and an aqueous solution of 3 mM cetyyltrimethylammonium bromide‐sodium salicylate, are predicted here with an improved Bautista–Manero–Puig model. To determine the constancy of the model parameters with time, we applied successfully an integro‐differential approach. This methodology revealed that all the model parameters, but the elastic modulus is constant. The nature of the predicted fluctuations was analyzed by employing the exponent of Lyapunov. This analysis demonstrates that the fluctuations are chaotic deterministic in Regimes I and IV, whereas they are random in Region II. We found that the predictions of the modified model follow the experimental data and reveal that these fluctuations are related to the creation of elastic structures at the inception of shear flow. © 2018 American Institute of Chemical Engineers AIChE J, 64: 3735–3745, 2018