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Nifty 50 on 11th Tuesday

Today's  session was meaningful deterioration from yesterday's relatively balanced setup. The most important development was not simply the 0.46% decline. It was the manner in which the decline occured.

Nifty opened only slightly below Monday's close, but then sellers took control almost immediately, driving the index sharply lower and keeping it trapped below the previous close for virtually the entire session.

Yesteerday, the market had succesfully defended 24500-24520. Today, that support was decisively breached.

That changes the short-term technical pictures.

Heatmap

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