I can see only a Short here with stop Beyond 0.65 fib. I like the subdivision. And also looking it in alternate way as 1 and retracement in 2. I don't trade NIFTY or SGX NIFTY just yet. Just trying to learn and put counts. So right now to analyse NIFTY or SGX Futures docent matter to me.
If its gonna follow correction to to red box then we should look impulse to down side side with an algo target to -0.232 or it can be anywhere. Red box can zone to ladder shorts and stop above 0.65 is Good R:R. Current correction is is an large degree B wave in which there are ABC Sub waves.