New Delhi, March 5 -- Despite the heavy bear hammering that Indian equity indices have faced in the past six months, top stock market analyst and head of research at Asit C Mehta Investment Intermediates Siddarth Bhamre does not see a rebound in the near term. Bhamre told Mint that markets could correct some more while suggesting that it would be adventurous to take exposure in mid-cap and small-cap segments now. Edited excerpts:

It's always difficult to gauge how long a bull market or a bear market will last, but we can monitor some variables which are responsible for these large swings. If domestic money was fueling the rally, its FII money which is leading to this major correction post-COVID. Factors which are leading to FIIs withdraw...