The Nifty is currently trading at 6168, up 25.90 points. This is at 1305 hours. The market has given up a lot of its early morning gains. For the day trader, today qualifies as a choppy day - frirst the market moved up, triggering a buy. Then, it moved down, triggering a sell. Today's failure to sustain new highs should not be taken as a start of a bear market . We need to have a sense of proprotion. After a blistering 900 point rally (from 5350 to 6250) the Nifty is going to see dips and corrections. In the context of the rally, an intra day decline of 60 or 70 points is no big deal (of no importance).
Fo all those who are waiting for a market decline, here is a thought: all markets correct. a correction is not a decline or a bear market.