--- title: "822 Crore FII Buy. Magnet 24,000. Nifty | The Tanmay Edge" description: "The foreign desk did three things yesterday that took six weeks to set up. They bought 822 crore of cash equities." source_url: https://www.rupeecase.com/podcast/episodes/2026-05-26 episode: 47 season: 2 date: 2026-05-26 duration_seconds: 570 audio: https://content.rss.com/episodes/336728/2857607/tk-s-pre-market-radar/2026_05_26_03_09_42_ac44e4a7-e7b8-4ce6-89ac-38b57386ca1e.mp3 grade: 5/6 generated: instiv2-tools/build-podcast.mjs (do not rebuild from the HTML) --- # 822 crore FII buy. Magnet 24,000. Nifty expiry The Tanmay Edge, Season 2, EP47, Tuesday 26 May 2026, 9:30. FII Mon bought 822 crore cash first buy day of May after 22 trading sessions of selling ## Scorecard Grade 5/6 (83 percent): 5 hit, 0 partial, 0 mechanical, 1 miss. Graded the next trading day, 27 May 2026, against NSE settlement. The call: Monthly Expiry - HIT: Bank Nifty closed 55,090.80 inside 54,800 to 55600, VIX clean below 16.70 (16.13), Nifty high held below 24,249 (24,089.80), FII covered 62K index-futs shorts on day 3, and DII stayed a cash buyer (+1361.43 crore). - MISS: the Nifty close-band 23,950 to 24,100 slipped 36.30 low (23,913.70). A 7th call (RBI 5B USD swap subscription >=1.0x) was never published so it is excluded, not penalized. Strong card, BhavCopy verified. ## Chapters ### 1. Cold open: foreign desk three leg flip in one session (about 0:00, estimated) 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 10,015 short futures contracts on the index. Second straight day of covering after Friday's first crack. And they covered 1,18,115 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. ### 2. Segment 1: Monday close the rally that closed green (about 0:58, estimated) Sensex closed 76,488. Up 1073 points. Up 1.42 percent. Nifty closed 24,031. Up 312 points. Up 1.32 percent. Bank Nifty led at plus 2.29 percent and closed 55,293. 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. ### 3. Segment 2: the chain migrated 200 points up (about 1:51, estimated) Friday the magnet was at 23,750. The biggest single-strike put stack of May sat there. Yesterday the writers moved the entire chain up. The 24,000 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 23,900. Another 68 lakh at 23,950. Below the magnet, the floor is 23,900 to 23,950. Above the magnet, they rebuilt the wall in fresh OI. 34 lakh fresh call contracts at 24,400. 26 lakh at 24,300. 20 lakh at 24,200. The mega-cluster at 24,500 sits at 111 lakh contracts and is unreachable in one session. ### 4. Segment 3: 24,000 is the expiry magnet and the straddle math (about 2:51, estimated) Read that one more time. The chain is no longer pinning Tuesday at 23,800. The chain is pinning Tuesday at 24,000. The 24,000 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 24,000 closed at 174.25 yesterday. The chain says the move today is roughly 174 points either side. That puts the implied band at 23,857 on the downside and 24,206 on the upside. With the 1.25 multiplier the wider band is 23,814 to 24,249. The May Future closed 24,063 with a premium of 31 over the cash. The June Future closed 24,123 with a premium of 73. Bullish carry both contracts. Both pricing in upside continuation. ### 5. Segment 4: five step trade plan and the floor at 23,900 (about 4:01, estimated) Buy on dips with a hedge. Five steps. One. Do not chase the open. GIFT Nifty at 24,040 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 23,900 to 23,950. That is where the put writers parked 77 plus 68 lakh fresh contracts yesterday. Touch 23,930 in the first hour and you are at the support. Add long futures or long delta. Target Tuesday close 24,000 by 3:30 PM. Three. Sell the 24,200 call at 33 and the 24,300 call at 16. Writers added a combined 46 lakh fresh calls on those two strikes. They want the chain to settle below 24,200. Premium melts to zero by close. Four. Above 24,249 take the call shorts off. The wall is being tested. Trade flips to momentum read above 24,300. Five. Below 23,857 the floor activates. Below 23,857 the next support is 23,814 and below that the 23,700 to 23,500 deep put stack. Stand down. ### 6. Segment 5: Bank Nifty first print under the new rule (about 5:36, estimated) 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 55,293 and the writers parked 70 lakh fresh put contracts at 55,000 in one session. That makes 55,000 the new monthly magnet. They covered 55 lakh short calls at the same strike, telling you 55,000 is the floor, not the ceiling. Above, the 56,000 call cluster sits at 17 lakh contracts. Range for the day is 54,500 to 56,000. 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 BN settles outside, the writers go back to the drawing board and June BN looks different again. ### 7. Segment 6: hedge almost free at VIX 16.70 and the macro (about 6:47, estimated) India VIX closed yesterday at 16.70. The 23,500 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 the weakness back and that becomes Wednesday's story. US markets closed yesterday for Memorial Day. Dow Futures 50,882, up 302 points implying US open near an all-time high. Asia mixed. Nikkei down 0.38. KOSPI up 3.08. Hang Seng up 0.46. Nvidia reports after the US bell tonight. That is a Wednesday story. ### 8. CTA close: eP46 grade and the bullish bias (about 8:17, estimated) Friday's call said buy on dips with hedge, magnet 23,800. The market said no dips offered, broke straight up, closed 24,031. 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 24,000. One ceiling at 24,200. One floor at 23,900. 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 trade is buy on dips with a 23,500 hedge. One magnet. One auction. One first print. Buy the dips. Watch 24,000 by close. ## Key takeaways - FII Mon bought 822 crore cash first buy day of May after 22 trading sessions of selling - FII Mon covered 10,015 short futures second day straight after Friday first crack - FII Mon covered 1,18,115 short calls cash buy futures cover call cover same session - Sensex 76,488 up 1073 points up 1.42 percent - Nifty 24,031 up 312 points up 1.32 percent first close above 24,000 in three weeks - Bank Nifty 55,293 up 2.29 percent led the day PSU Bank 2.90 Financial Services 2.24 - India VIX 16.70 crushed 6.74 percent lowest VIX print since 11 May Iran crash - 42 of Nifty 50 closed green only 8 red Sensex losers TCS Infosys Sun Pharma HUL - 24,000 PE added 97 lakh fresh biggest single strike single day put add of May series - 23,900 PE added 77 lakh 23,950 PE added 68 lakh floor stacked under the magnet - 24,400 CE added 34 lakh 24,300 CE added 26 lakh 24,200 CE added 20 lakh wall rebuilt - 24,500 CE mega cluster 111 lakh contracts unreachable in one session - 24,000 strike total 130 lakh puts plus 99 lakh calls equals 229 lakh contracts at one strike - 24,000 straddle 174.25 implied move 174 points either side - Standard band 23,857 to 24,206 wider band 23,814 to 24,249 with 1.25 multiplier - May Future 24,063 premium 31 June Future 24,123 premium 73 bullish carry both contracts - Buy zone 23,900 to 23,950 target close 24,000 by 3:30 PM - Sell 24,200 CE at 33 sell 24,300 CE at 16 writers want chain to settle below 24,200 - Bank Nifty 55,000 PE plus 70 lakh fresh first monthly under new NSE last Tuesday rule - Brent 97.94 dollars rupee 95.23 two week high 47 paise stronger RBI 5 billion swap by 11 AM ## Quotes > 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. > > Cold open. Frames the FII three-leg reversal of cash buy plus futures cover plus call cover in one session. > Cash buy, futures cover, call cover. All same session. > > Cold open. The compressed shorthand for what 822 crore plus 10015 futures covered plus 118115 calls covered means on the same Monday session. > Read that one more time. The chain is no longer pinning Tuesday at 23,800. The chain is pinning Tuesday at 24,000. > > Segment 3. The 200 point magnet migration after 97 lakh fresh puts at 24000 in one session. > If you carry long futures into today's settlement, the 23,500 monthly put is the cleanest insurance available. Buy and forget. > > Segment 6. The hedge call at VIX 16.70 where the 23500 monthly put is almost free at 5 to 10 rupees. > There is no historical playbook. > > Segment 5. Bank Nifty monthly settles under the new NSE last-Tuesday rule for the first time. > Direction right, levels too low. Fifth session running of that pattern. > > CTA close. EP46 grade segment acknowledging the bias paid but the entry was missed because the chain skipped the dip. > One magnet. One auction. One first print. Buy the dips. Watch 24,000 by close. > > Sign-off. The five-fact recap of Tuesday's setup compressed to one line. ## Transcript 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 10,000 short futures contracts on the index. Second straight day of covering after Friday's first crack we are seeing. And they covered 1 lakh 18,000 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. 42 percent. Nifty closed at 24031, up 312 points. 32 percent positive. 29 percent and closed at 55,293. 9 percent. 24 percent. 71 percent. 5 percent. 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 23,750 to 23,800. The biggest single-strike put back of the May sat there. Yesterday the writers moved the entire chain. According to yesterday's BhavCopy, the 24,000 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 23,900. They added 68 lakh at 23,950. Below the magnet, the floor is standing at 23,900 to 950. Floor means the support. Above the magnet, they built the wall in fresh OI. They added 34 lakh contracts at 24,400. They added 26 lakh contracts at 24,300. They added 20 lakh contracts on 24,200. 1 crore contracts and is unreachable in one session. Read that one more time. The chain is no longer pinning Tuesday's expiry at 23,800. The chain is pinning Tuesday's expiry at 24,000 to 24,050. 3 crore puts and 99 lakh calls. 2 crore contracts open at one strike on expiry day. 25. The chain says the move today is roughly around 210 points either side. That puts the implied band at 23,800 on the downside and 24,200 on the upside. With the one standard deviation adjustment, the wider band is 23,814 to 24,249. The May futures has closed at 24,063 with a premium of 31 points over the cash. That is a bullish carry. The June futures closed at 24,123 with a premium of 73. Both contracts pricing in upside continuation. Now the trade plan, and this is a buy on dips with a hedge. I am telling you once again. One. Do not chase the Nifty at the open. GIFT Nifty is trading at 24,040 this morning. A flattish to 8 points above yesterday's cash close. A flat open is implied. Wait for the 9:30 print. Almost every expiry day the writers fade the first hour to test the magnet. Two. The buy zone today is 23,900 to 950. That is where the writers parked 77 plus 68 lakh fresh contracts yesterday. If you touch 23,930 in the first hour, you are at the support. Add long futures, long deltas over there. Target Tuesday's close is 24,000 by 3:30 PM. Three. The trade on the premium side. Sell the 24,200 call. Sell the 24,300 call. The 24,200 strike closed at 33 yesterday and 24,300 closed at 16. The writers added a combined 46 lakh fresh contracts on those strikes. They want the chain to settle below 24,200. The premium melts to zero if it does. Four. Above 24,249 today, take the call shorts off. The wall is being tested. The range stops there. If we extend to 24,249 intraday, the writers have defended with cash and the trade flips to momentum read. 24,300. So remember this. If we are touching those 24,249 levels today, just play for the long side to happen. The expiry above 24300, the magnet might shift from 24,000. Five. Below 23,857 today, the support breaks. If the index breaks 23857, the next support is 23,814. And that below that you hit 23,500 stacks are there. Stand out. Now the Bank Nifty trade. This is the first time Bank Nifty monthly settles on a last Tuesday of the month. Yesterday Bank Nifty closed at 55,293 and the writers stacked 70 lakh put contracts at 55,000 in one strike. That makes 55,000 a new monthly target. They covered 55 lakh short calls as well at the same strike, telling you 55,000 is the floor or the support, not the ceiling. That is not the resistance. Above, 56,000 call cluster sits there at 17 lakh contracts. Range for the day is 54,500 to 56,000. I am looking for a buy near that 55,000 zone. If Bank Nifty settles in the band by 3:30, the textbook print and the June monthly playbook starts there. If Bank Nifty settles outside, the writers go back to the drawing board next month and June Bank Nifty looks different again. Now the hedge. 7. The 23,500 monthly put at the volatility costs around 5 to 8 bucks. 84 it was 4 is to 1 against my long. 82 on Friday it was 3 to 1. At a VIX of 16 today the same put is cheap enough that my hedge is almost free. If you carry long futures into today's settlement, the 23,500 monthly put is the cleanest insurance available. Buy and forget it. The macro. 97 dollars this morning. 71 overnight but still well below that 100 mark we are tracking. 23, two weeks of high. That rupee is touching 47 paisa stronger than the Monday's close. RBI lands a 5 billion dollar buy-sell swap auction by 11 AM today. The rupee has already pre-priced. Watch the subscription ratio. Above 1 times keeps the strength. Below 1 times brings back the weakness and that becomes Wednesday's story. US markets were closed yesterday for Memorial Day. Dow futures are sitting at 50882, up 300 points. US open tonight almost towards the new high that we are seeing. Asia is mixed this morning. 38 percent. 08 percent. 45 percent. Taiwan is completely flat. Nvidia reports earnings after the bell. That was yesterday's last week's story. So the day has one magnet at 24,000. One resistance at 24,200. One support standing at 23,900. One auction at 11 AM. One Bank Nifty first print under the new expiry. And one foreign desk that just spent yesterday's session three structural reversal things in one session. The bias is completely bullish. The trade is buy on dips with a hedge. A quick word on yesterday's grade. Friday's call said buy on dips with hedge, magnet 23,800. The market said no dips offered, broke straight up close to 24,031. Direction right, levels tight. Fifth session running of that pattern. The hedge math debt closes today at the cheaper VIX. Bias has paid us nicely. The entry was missed because the chain skipped the dip. If you want live calls and strategy book, RupeeCase Nifty 10 names from yesterday's rebalance prints day one alpha by 3:30. com. Visit it and listen to the podcast session as well over there. Have a great Tuesday, guys. One magnet, one auction, one first print. Buy the dips. Watch 24,000 by the close. This was The Tanmay Edge. If you found value in this, guys, please share it with one trader friend who needs it right now. com where it streams first. And give a rating, guys, and a review if you want to add something in this podcast. ## More - Podcast archive: https://www.rupeecase.com/podcast/ - May 2026 archive: https://www.rupeecase.com/podcast/2026-05/ - Season 2 index: https://www.rupeecase.com/podcast/season-2/ - Track record and method: https://www.rupeecase.com/track-record - Previous: EP46, https://www.rupeecase.com/podcast/episodes/2026-05-25 - Next: EP48, https://www.rupeecase.com/podcast/episodes/2026-05-27 Market commentary for education only. Not investment advice. RupeeCase is not a SEBI registered investment adviser.