4700-4750-4775 is the profit booking range and fresh buying can come only on a close above 4780. Around 2pm we get to see European market open and which opened RED to complement that US futures opened in RED with a signal that US markets might open in RED (as they did infact and plunged 2%), tomorrow with all this pressure China might not be able to sustain 2600 level which is critical support and after that entire Asia will follow that trend.
We had a good run up in last 6 months and need some correction to move out/down of this range of 4350-4650.. the breakout of 4650 was not quite successfull by bulls so bears trying the opposite now..