Is correction in Indian Stock Market over?

After making a high of 21000, the sensex has almost eroded most of the gains it made during last year. Now the Indian stock markets are slowely recovering. But is it a sure bull market again or is it just a pullback? The approach of an investor in Indian stock market should be more stock specific than a market wide approach.. The stocks which are giving good growth over years and which were available at low valuations in terms of PE multiples, yield etc. have give substancial returns over last 1 year.. I recommend you to follow a similar approach this year and pick good stocks trading at low valuations. An example for this may be a stock by name Shilp Gravures which is available at Rs. 63 ( 16th May 2008). This is trading at a PE of less than 7 times. The company is giving a good dividend of 21%. The company is growing nicely. Observe this stock.