Season 2, Episode 47 | 2026-05-26

822 Crore FII Buy. Magnet 24000. Nifty Expiry

The foreign desk did three things yesterday that took six weeks to set up. They bought 822 crore of cash equities. First buy day of May after twenty-two trading sessions of selling. They covered another 10015 short futures contracts.

Cold Open | Foreign Desk Three Leg Flip In One Session

Yesterday the foreign desk did three things in one day that took six weeks to set up. They bought 822 crore of cash equities. First buy day of May after twenty-two trading sessions of selling. They covered another 10015 short futures contracts on the index. Second straight day of covering after Friday's first crack. And they covered 118115 short calls on the chain. Cash buy, futures cover, call cover. All same session. Six weeks of stacking shorts. Two days of unwinding them. That is not a head-fake. That is the desk that called the top in April unwinding the trade.

Segment 1 | Monday Close The Rally That Closed Green

Sensex closed 76488. Up 1073 points. Up 1.42 percent. Nifty closed 24031. Up 312 points. Up 1.32 percent. Bank Nifty led at plus 2.29 percent and closed 55293. PSU Bank up 2.90. Financial Services up 2.24. Auto up 1.71. Realty up 1.50. India VIX crushed 6.74 percent to 16.70. The lowest VIX print since the 11 May Iran crash. Forty-two of the Nifty fifty closed green. Eight closed red. The only Sensex names that finished negative were Tata Consultancy, Infosys, Sun Pharma, and Hindustan Unilever. Everything else moved one way. Up.

Segment 2 | The Chain Migrated 200 Points Up

Friday the magnet was at 23750. The biggest single-strike put stack of May sat there. Yesterday the writers moved the entire chain up. The 24000 strike added 97 lakh fresh put contracts in one session. Biggest single-strike single-day put add of the entire May series. Another 77 lakh puts at 23900. Another 68 lakh at 23950. Below the magnet, the floor is 23900 to 23950. Above the magnet, they rebuilt the wall in fresh OI. 34 lakh fresh call contracts at 24400. 26 lakh at 24300. 20 lakh at 24200. The mega-cluster at 24500 sits at 111 lakh contracts and is unreachable in one session.

Segment 3 | 24000 Is The Expiry Magnet And The Straddle Math

Read that one more time. The chain is no longer pinning Tuesday at 23800. The chain is pinning Tuesday at 24000. The 24000 strike alone now carries 130 lakh puts and 99 lakh calls. That is 229 lakh contracts of OI parked at one strike on expiry day. The straddle at 24000 closed at 174.25 yesterday. The chain says the move today is roughly 174 points either side. That puts the implied band at 23857 on the downside and 24206 on the upside. With the 1.25 multiplier the wider band is 23814 to 24249. The May Future closed 24063 with a premium of 31 over the cash. The June Future closed 24123 with a…

Segment 4 | Five Step Trade Plan And The Floor At 23900

Buy on dips with a hedge. Five steps. One. Do not chase the open. GIFT Nifty at 24040 this morning, 8 points above yesterday's cash close. Wait for the 9:30 print. Almost every expiry day the writers fade the first hour to test the magnet. Two. Buy zone today is 23900 to 23950. That is where the put writers parked 77 plus 68 lakh fresh contracts yesterday. Touch 23930 in the first hour and you are at the support. Add long futures or long delta. Target Tuesday close 24000 by 3:30 PM. Three. Sell the 24200 call at 33 and the 24300 call at 16. Writers added a combined 46 lakh fresh calls on those…

Segment 5 | Bank Nifty First Print Under The New Rule

Bank Nifty monthly settles under the new NSE rule for the first time. Last Tuesday of the month. There is no historical playbook. Yesterday BN closed 55293 and the writers parked 70 lakh fresh put contracts at 55000 in one session. That makes 55000 the new monthly magnet. They covered 55 lakh short calls at the same strike, telling you 55000 is the floor, not the ceiling. Above, the 56000 call cluster sits at 17 lakh contracts. Range for the day is 54500 to 56000. If BN settles inside that band by 3:30 PM, the new rule has its first textbook print and the June monthly playbook starts there. If…

Segment 6 | Hedge Almost Free At VIX 16.70 And The Macro

India VIX closed yesterday at 16.70. The 23500 monthly put at that volatility costs 5 to 10 rupees. Last week at VIX 14.84 it was 4 to 1 against my long. At VIX 17.82 Friday it was 3 to 1. At VIX 16.70 today the same put is cheap enough that the hedge is almost free. Buy and forget. Brent crude 97.94 dollars. Up 0.71 percent overnight but still well below 100. Rupee opened 95.23. Two-week high. Forty-seven paise stronger than Monday close. RBI lands a 5 billion dollar buy-sell swap auction by 11 AM today. Watch the subscription ratio. Above 1.0 times keeps the strength. Below 1.0 times brings …

CTA Close | EP46 Grade And The Bullish Bias

Friday's call said buy on dips with hedge, magnet 23800. The market said no dips offered, broke straight up, closed 24031. Direction right, levels too low. Fifth session running of that pattern. The hedge math debt closes today at the cheaper VIX. The bullish bias paid. The entry was missed because the chain skipped the dip. So the day has one magnet at 24000. One ceiling at 24200. One floor at 23900. One auction at 11 AM. One Bank Nifty first-print under the new rule. And one foreign desk that just spent yesterday doing three structural reversal things in one session. The bias is bullish. The…

Highlights

Transcript Excerpt

A very good morning, guys. Yesterday the foreign desk did three things in one day that took six weeks to set up. They bought 822 crore of cash equities. First day of the May after 22 trading sessions of selling. They covered another 10000 short futures contracts on the index. Second straight day of covering after Friday's first crack we are seeing. And they covered 1 lakh 18000 short calls as well on the chain. So cash buying, futures cover, calls covering, all the same session. Six weeks of stacking shorts, two days of unwinding them. This is not a head-fake. That is a desk that is calling the top in the April unwinding trade. This is The Tanmay Edge. You are listening to episode 47. I am Tanmay Kurtkoti. Let's go. Sensex closed at 76488, up 1000 points, up 1.42 percent. Nifty closed at 24031, up 312 points. 1.32 percent positive. Bank Nifty led yesterday's day plus 2.29 percent and closed at 55293. PSU banks were up by 2.9 percent. Financial services were up by 2.24 percent. Auto was also up by 1.71 percent. Realty up by 1.5 percent. And India VIX crashed 6.7 percent to 16.7. The lowest VIX print since almost May 11, Iran crash. 42 of the Nifty 50 closed in positive. 8 closed in red. The only Sensex names that finished negative were TCS, Infosys, Sun Pharma and HUL. Everything else moved up. And only one way up. Now the chain. This is the read that changes today's trade. Today is the expiry and you have to listen to it perfectly. Friday the magnet was 23750 to 23800. The biggest single-strike put back of the May sat there. Yesterday the writers moved the entire chain. According to yesterday's BhavCopy, the 24000 strike added 97 lakh fresh put contracts in one session. Biggest single-strike single-day put addition on the entire May series. And the May series is closing today itself. They added another 77 lakhs puts at 23900. They added 68 lakh at 23950. Below the magnet, the floor is standing at 23900 to 950. Floor means the support. Above the magnet, they built th…

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