Nifty - Market Sentiment Cycle on Actual Chart

There are 14 stages of market sentiment cycle, the 2 stages which are the most interesting and which every seasoned trader tries to identify are Euphoria and Despondency / Depression.

Euphoria stage - This is the point of maximum financial risk

Despondency / Depression - Point of maximum financial opportunity

Have tried to plot the best estimate to understand where are we currently in the market sentiment cycle. Markets are completely unpredictable and the shared chart is only for an understanding to try and plot the sentiment cycle in real-world scenario
Nota
Market is still trading within Euphoria Zone

Time to be cautious!
Nota
As we can see here, Euphoria stage is completed. we could see 15-25% correction from the recent high.
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