NIFTY SMALL CAP... I HOPE THE MISERY IS OVER

A massive global sell-off was seen in mid and small caps in nifty in the past few trading sessions.
The nifty small-cap index had retraced to 0.618 Fibonacci levels from its recent swing high.
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.