"We did all we could, this is a moment when the fans have to understand that the coach wants to get results but if they don't come he can't carry on," Diaz, who has won league titles as a coach with River Plate and San Lorenzo, told reporters.
'Red Devils' fans were baying for Diaz's head at the end of the match with their team bottom of the standings having scored just one goal and conceded seven after four matches.
"I'm the only one to blame. The club gave us everything [we needed]," said former Argentina striker Diaz, who had been in charge since the seventh round of the Apertura championship.
It did not help Independiente that goalkeeper Hilario Navarro let a head-high shot from striker Fabian Bordagaray slip from his grasp over his head and into the net to leave his team two goals behind after a quarter of an hour.
Argentinos, whose coach Nestor Gorosito resigned from his hospital bed early in the week after a car crash, notched their first win under his staff before Leonardo Astrada takes over on Monday. They had previously drawn one match and lost two.
Independiente's reserve team trainer Cristian Díaz will take temporary charge while the Red Devils look for a new coach. Americo Gallego is favourite to take over.
Gallego steered Independiente to the Apertura title in 2002 and had another spell in charge of the club from the Buenos Aires suburb of Avellaneda in 2009/10.
