The chart of the Nifty smallcap is looking rather confusing.... and to clear that confusion..... I have given you all 2 separate markings... The BLACK one indicates the downside risk.... while the ORANGE one indicates a BULL RUN. The impulsive 12345 marked in BLACK COLOUR is ONLY INDICATIVE and NOT exact in terms of price. hence do not follow the impulsive 12345 as of now. Let the whole structure play out 1st and then Ill take a view