It was a very strong sell off which started much earlier in the day completely trapping bulls above 4550 levels.
It now looks like all the conventional patterns are deliberately broken, first a failed head and shoulders pattern around 4000 levels and this time a failed 'W' breakout around 4500 levels.
It looks like there will be a move to retest 4260 levels soon if NIFTY is unable to move past 4444 levels.
Now that the bull trap at 4550 level is established any move above that will change the view as extremely bullish which is unlikely to happen this week.
Resistance levels : 4444, 4469, 4502
Support levels : 4342, 4315, 4303
Happy Trading
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