In Bull markets, corrections are sharp, swift and brutal.
Here's the Nifty Intra-day Chart
Nifty opened higher in the morning and then declined to Previous day close of 7750. It consolidated above that level before breaking down below it around 1:00 pm. So, it means till 1:00 pm - Nifty was unchanged. Post breakdown, Nifty pulled back to 7750 again and then around 1:40-1:45 - the selling started and Nifty sold off 150 points in that last 100 minutes of selling. That is HUUUGE by any standards.
The selling would have got intensified because of lower European market opening and rush to take profits. Well, that's what happens in Bull markets: Selling comes when no one expects it and is brutal. The good news is that selling will make market healthier. It will make traders and speculators to go easy for time being and market pullback will create fresh opportunities. Right now, just wait for the pullback to play itself out.
The Blogpost is purely for educational purpose.