The Indian market is responding to global events/ shocks such as war, tariffs and US / global market trends.
In addition we have sectoral/ stock -wise performance and expectations and Indian macro- economic and fiscal policy events.
The market is in continuous oscillation with the swings being impacted by endogenous and exogenous factors.
The market tends to overreact on either side.
Classification of market stage is a post-event labelling.
There is no basis for defining the duration of any stage nor is there any basis for distinguishing the
last stage of a bear run with a first stage of a bill run.
Analysing Exogenous and endogenous factors is probably a better framework in the current context