Season 2, Episode 39 | 2026-05-14

EP39 | The Tanmay Edge

Yesterday Sensex closed at 74608.98. Up 49 points. Half a percent of a percent. From the outside it looked like the bleeding from Tuesday's crash had simply stopped. From the inside, Wednesday was the day the trade flipped.

Cold Open | The Boring Close That Flipped The Trade

Yesterday Sensex closed at 74608.98. Up 49 points. Half a percent of a percent. The most boring close of the week. But underneath that boring close, three things happened that change the whole map for today. This is The Tanmay Edge. Tanmay Kurtkoti. Season 2 Episode 39. Let's go.

Pro 3-Move Flip | One Session. One Direction. One Posture Shift.

Tuesday the market fell 1.92 percent on Sensex. Wednesday it closed flat. From the outside the bleeding looked like it stopped. From the inside Wednesday was the day the trade flipped. Proprietary desks made three moves on the same session. Covered 113051 short calls. Sold 45229 long puts. Added 5095 long futures contracts. Three moves. One direction. Each move makes the next one safer. When one desk makes one bullish move on a session that is noise. When the same desk makes three bullish moves on the same session that is a posture shift. We saw this exact signature on the 28th and 29th of Apr…

The Chain | 75000 Wall. 74000 Floor. 73000 Deep Floor.

Sensex weekly expiry is today. The 14 May option chain tells you where the trade is built. The 75000 strike is the wall. Call open interest 1306320 contracts. Wednesday alone added 458860 fresh contracts. A 65 percent build in one session at one strike. The wall did not just exist. The wall got built yesterday. Below us at 74000 sits the floor. Put open interest 1808080. Wednesday added 904160 puts at that strike. At 73000 sits the deepest single strike of any chain this season. Put open interest 2240440. Plus another million added Wednesday. Wall at 75000. Floor at 74000. Reinforced floor at …

GIFT Vote | Up 109. Brent Eased. USD INR 95.70. Wall 391 Points Away.

GIFT Nifty this morning is up 109 points at 23533. Plus 0.47 percent. Overnight Brent crude eased from 107 dollars to 105.64. USD INR holding at 95.70. US futures green. Asia mostly green. GIFT voted up. Pro bought the floor. And the wall sits 391 points away. Those three things together are why today trades the wall.

Two Desks One Trade | Pro Long. FII Short. Same Vol Bet.

Pro flipped bullish on options. FII did the opposite. FII held 254012 short call positions. Held 444048 long put positions. Sold options worth 5752 crore rupees net. One desk leaning long. Another desk leaning short. Different exposures. Both desks added option-selling on top of core positions. Pro covered shorts but sold more options as theta plays. FII held shorts and sold options for premium. The market chain aggregate said the same thing. Wednesday the chain added 7.2 million call open interest contracts. And 16.7 million put open interest contracts. Put writers outpaced call writers by a …

Trade Map | Buy The Dip. Sell The Rally. Pin At 74600. Hold The Wing. Stand Down On Premium.

First. The dip yesterday was the buy. Sensex 74134 was the intraday low. The floor stack at 74000 plus 73500 plus 73000 makes that level the buy zone. If we see Sensex test 74100 to 74300 intraday today that is the second-chance entry. Hedge it with a 74000 put or a 73500 put depending on protection. Second. The wall is the short. 75000 inner wall. 75500 outer wall. 76000 the mega wall with 1948380 calls open. If Sensex tags 75000 intraday without the chain trimming call OI that is the sell-the-rally trade. Sell calls at 75000 hedge with 75500 or 75800. Third. The pin is at the ATM. Sensex 746…

Wing As Hedge | Same Put. Two Jobs. Sometimes Three.

This is the third week in a row that the wing as hedge has paid something. EP36 the 23800 put wing protected the floor. EP38 the 75000 mega-call sat as a ceiling hedge. Today the 74000 put protects again. Same put. Two jobs. Sometimes three jobs. When insurance graduates to the buy the chain does not re-price it as a different contract. The trader has to re-read it as a different role.

RupeeCase Nifty 10 | Plus 0.86 Vs Nifty Plus 0.21. Metals Led.

The RupeeCase Nifty 10 portfolio added 0.86 percent yesterday on a day Nifty added 0.21 percent. Tata Steel up 3.73. Hindalco up 3.61. Adani Ports up 2.90. JSW Steel up 1.95. The metals leg led on a day the BSE Metal index added 3.30 percent. The Wednesday 11 May rebalance brought Coal India back into the basket. Adani Enterprises moved out. The new ten holdings showed up at the right time on the right day. Excess return since the rebalance is plus 2.03 percent. Annualised CAGR around 26 percent. Next rebalance scheduled for the 8th of June. To recap. Pro bought the dip. The chain built the wa…

Highlights

Transcript Excerpt

A very good morning guys. Yesterday Sensex closed at 74610. Up 49 points. The most boring close of the week that we saw. But underneath that boring close, three things happened that changed the whole map for today. This is The Tanmay Edge. I am Tanmay Kurtkoti. Season 2, Episode 39. Let's go. So Tuesday the market fell 1.92 percent on Sensex. Wednesday it closed flat. From outside it looked like the bleeding stopped and nothing else happened. From inside, Wednesday was the day the trade flipped. Now let's look at some data points. Proprietary desks made three moves on the same session. They covered 1 lakh 13 thousand short calls. They sold 45 thousand long puts. They added 5 thousand long futures contracts. Three moves, one direction. Each move makes the next one safer. When one desk makes one bullish move on a session that is noise. When the same desk makes three bullish moves on the same session, that is a posture shift that we saw yesterday. We saw this exact signature on 28th and 29th of April as well. Pros had flipped. Four sessions later the market was higher. That is the reference trade for this week as well. So that is the first thing guys. The second thing is the chain. Sensex weekly expiry is today. The 14 May option chain tells you where the trade is built. The 75000 strike is the wall or the resistance. Call open interest over there is 1 crore 30 lakh contracts. Wednesday alone added around 4 lakh 58 thousand contracts over there. That is a 65 percent buildup in one session at one strike. The wall did not just exist. The wall got built yesterday. Below us at 74000, that is your support, sits the floor. Put open interest is 1 crore 80 lakh over there. Wednesday added around 9 lakh puts on that strike. And below that at 73000 sits the deepest single strike of any chain we have looked at this season. Put open interest at 22 lakh 40 thousand plus another million added on Wednesday. So we have a resistance at 75000, a support at 74000, a reinforced floor at 7…

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