1. Market Sentiment and Cumulative Delta
The bottom panel showing Cumulative Delta indicates a predominantly bearish shift as the session progressed.
The session started with negative delta (selling pressure) at 09:20.
There was a brief attempt by buyers to take control at 09:22 and 09:23 (green bars), but this was met with significant aggressive selling.
By 09:25 and 09:26, the delta turned sharply negative, suggesting that aggressive sellers were overwhelming the passive buy limit orders.
2. Price Action and Order Clusters
09:23 (Bullish Attempt): The green candle shows a high volume of buying at lower levels (indicated by the green boxes), with volume figures like 3,42,655 appearing as a support base. However, price failed to sustain these highs.
09:24 - 09:25 (The Shift): A massive negative Delta of -4,91,907 appeared at 09:24. This signifies a "Sell Imbalance" where sellers were hitting the bid with high conviction.
09:26 (Bearish Confirmation): The final candle shows a heavy cluster of selling at the top of the bar (2,09,942 vs 1,83,695). The price is trending toward 24078, moving away from the earlier highs near 24110.
3. Key Observations (Order Flow Imbalances)
Selling Imbalances (Red Boxes): You can see aggressive selling concentrated at the 24090 to 24110 range. Every time the price reached this "overhead supply" zone, aggressive market sell orders entered.
Stacked Imbalances: At 09:26, we see multiple red numbers on the left side of the footprint. This indicates Aggressive Sellers are stepping down their offers to ensure they get filled, a classic sign of a downward trend continuation.
Summary Advice
The chart shows a "Failed Auction" to the upside. The buyers tried to push at 09:23, but the massive selling delta at 09:24 turned the tide.
Technical Outlook: The immediate trend on this 1-minute timeframe is Bearish.
Resistance: The zone between 24100 and 24110 is now a heavy supply zone.
Support: Watch the 24070 level. If the selling delta remains high and price breaks below 24068 (the bottom of the current Cumulative Delta move), the downward momentum is likely to accelerate.