Index has since turned lower in wave ((5)). Technically it still has to break below wave ((3)) at 5814.6 to avoid a double correction. Near term, the decline from wave ((4)) high at 7995.3 unfolded as a 5 waves impulse structure. Down from wave ((4)), wave 1 ended at 7685.3, and bounce in wave 2 ended at 7859. Index extended lower in wave 3 towards 7205.80 and wave 4 bounce ended at 7425.20. Finally, wave 5 of (1) ended at 7065.2
IBEX is now correcting cycle from 6.8.2020 high within wave (2) before turning lower again. As far as at 7995.30 high stays intact, expect rally to fail in the sequence of 3, 7, or 11 swing for more downside.