Yes, the disc is supported by the target and some part of the disc entered the target by going above the top of the tray and below the bottom of the chain support. One way to think of entering the target correctly is to picture a cylindrical plane going from the top of the tray to the bottom of the chain support. If the disc breaks that plane, it has entered the target correctly. In this case, the part of the disc that is still hovering over the tray has done that.

A few scenarios for how discs could end up supported by the basket are pictured below: