Still now the whole correction from 4700 to 3924 levels can be viewed as a ABC correcive waves with 5-3-5 sub wave pattern
Length of A Wave is 4700-4158 = 542. Length of C wave is 4480-3915=565 so the minimum criteria for the C wave should be equal to the length of the A wave which is met from where a sharp bounce back has taken place which is a indication of the next bull run to begin in short term. Alternatively there is also a possiblity of C wave could be 1.618 times of A wave
i.e 542*1.618 = 876.9 in length
So Alternatively C wave could end at 4480-876 = 3603
So the alternative strategy is to viewing the down wave from 4480-3915 as a 5 wave pattern of 1st Subwave of a 5 wave impulse downwave pattern…. and corrections are left in nifty if 3900 has been broken out. Condition fails if 3900 is not me any of the time.
Base Supports 3900. If broken then target 3603