NIFTY MIDCAP... CAN WE SEE A RECOVERY?

A massive sell-off was seen in almost all scripts of mid and small caps in nifty in the past few trading sessions.
The Nifty mid-cap index had retraced to 0.618 Fibonacci levels from its recent swing high, similar to the small-cap index.
We can see that the index had taken clear support at this level. I hope for a new swing from this level.
Please give your valuable comments on this analysis. Thank you.