Hi mohit,
  i dont want to show a specific velocity macro when in
edit mode. How 
should
  i check for edit mode on page? 
try the following sniplet.
#if($context.action == 'edit')
  {{velocity_macro/}} ## do something only when in edit mode
#else
  ## do something only when not in edit mode
#end
More information on
http://extensions.xwiki.org/xwiki/bin/view/Extension/Sheet+Module#HActionshe
ets
Bests,
Moritz