Season 2, Episode 65 | 2026-06-22

The Streak Broke On IT. 24,000 Held. Now The Gap-Up

Five green days ended Friday | and it broke on IT alone, not the whole market. Infosys fell almost 7 percent after a global consulting giant cut its outlook, dragging TCS, HCL Tech and Tech Mahindra with it.

Cold Open | Five Green Days, Then One Company In Ireland Broke The Streak

A very good morning, guys. For five straight days this market only knew one direction. Up, up, up and up. And then Friday, the streak broke. But here is the strange part. It didn't break because of a war, or a crash, or some scary headline out of America. It broke because of one company in Ireland you have probably never traded in your life. This is The Tanmay Edge. You are listening to episode 65.

The Tape | A Red Day That Was Really Just One Sector

Friday the Nifty closed at 24013, down 155 points, about half a percent. The Sensex fell 607 points to 76802, the first red day after five green ones. Now if you only read that headline you would think it was a bad day for everyone. It wasn't. Look under the hood and the whole fall came from one corner of the market: technology. Infosys dropped almost seven percent in a single session, TCS fell three and a half, HCL Tech and Tech Mahindra both more than two. The BSE IT index lost almost three percent on its own.

The Accenture Effect | One Company In Dublin Repriced A Whole Sector

Here's why. A giant American consulting firm called Accenture reported its numbers and quietly cut its forecast for the year to just three to four percent growth. Accenture doesn't even trade in India. But it sells the same thing our IT companies sell, to the same customers, in the same dollars. So when Accenture says next year looks slow, every fund manager in Mumbai hears the same message about Infosys and TCS. One company in Dublin repriced an entire Indian sector before lunch. That's the whole story of Friday in one line. Not a market sell off, a sectoral sell off wearing the market's clot…

What Held | 24000 Took The Hit And Bounced

While technology was bleeding, the rest of the market quietly held the line. Power Grid was up, NTPC was up, Bharti Airtel, Titan, ITC, all green. The Nifty fell to a low of 23902 in the morning, kissed that 24000 mark from below, and the buyers stepped right back in and pushed it back over the line by the close. So the question for today is simple. Friday was a panic in IT. Was it the start of something, or just a one day air pocket the rest of the market shrugged off?

The Foreign Funds Tell | Bought Cash, Sold The Index

The foreign funds are giving us a confusing answer. On Friday, on the official tally, they actually bought, close to 4900 crore of cash. That sounds bullish. But at the very same time, in the futures market, they did the opposite. They added to their bets that the market falls. They are now sitting on roughly 226000 contracts betting the index goes down, bigger than it was on Thursday. They bought shares with one hand and sold the index futures with the other. That's not confusion, that's a hedge. And that pile of short bets matters. If the market keeps climbing, every one of those shorts is a…

The Map For Monday | A Gap Up That Has To Prove Itself

First, there is no expiry today. Nothing to pin the market in place, nothing to hide behind. The next weekly expiry is tomorrow, Tuesday. So today is a clean read of who actually wants to buy and who wants to sell. Second, the setup points up. GIFT Nifty is at 24131, about 80 points higher. Asia is hot, Japan up over two percent, Korea and Taiwan strong. We probably open with a gap somewhere around 24100 to 24130. The first job is to see if it holds. Stay above 24050 to 24100 in the first half hour and the bias is up, and the room above is toward 24200, where sellers have stacked the most resi…

Education, Sell The News | Reliance Posted A Record And Fell

On Friday, Reliance held its big annual meeting. The news was fantastic. Record profit for the year, over 95000 crore. And they filed the papers for the Jio IPO, the listing everyone has been waiting years for. Genuinely good news. And the stock fell 1.4 percent. How does a company post a record profit, announce its biggest IPO, and the stock goes down? Because the market doesn't trade the news, it trades the surprise. Everybody already expected the record profit. Everybody already knew Jio was coming. All of it was already sitting inside the price, bought up weeks and months in advance. So wh…

Where We Land | Preparation, Not Prediction

So here's where we land for Monday. The streak broke, but only IT broke it. 24000 held the test on Friday. This morning hands the bulls a gap up and a tailwind from Asia, and now the gap has to prove itself in the first half hour. Above 24100 and holding, the shorts are fuel toward 24200. Back under 24000, and the trap snaps shut toward 23900. That's not a prediction, that's preparation. I'll see you tomorrow morning, before the bell, for Nifty expiry.

Highlights

Transcript Excerpt

A very good morning, guys. For five straight days this market only knew one direction. Up, up, up and up. And then Friday, the streak broke. But here is the strange part. It didn't break because of a war, or a crash, or some scary headline out of America. It broke because of one company in Ireland you have probably never traded in your life. This is The Tanmay Edge. You are listening to episode 65. This is Season 2. I am Tanmay Kurtkoti. Let's go. Let me set the scene. Guys, Friday the Nifty closed at 24,013, down 155 points, about half a percent. The Sensex fell 607 points to 76,802 after five green days in a row, the first red one. Now if you only read that headline you would think it was a bad day for everyone. It wasn't. Look under the hood and the whole fall came from one corner of the market: technology. Infosys dropped almost seven percent in a single session, TCS fell three and a half percent, HCL Tech and Tech Mahindra both down more than two percent. The BSE IT index lost almost three percent on its own. And here's why. A giant American consulting firm called Accenture reported its numbers and quietly cut its forecast for the year to just three to four percent growth. Accenture doesn't even trade in India. But it sells the same thing our IT companies sell, to the same customers, in the same dollars. So when Accenture says next year looks slow, every fund manager in Mumbai hears the same message about Infosys and TCS. One company in Dublin repriced an entire Indian sector before lunch. That's the whole story of Friday in one line. Not a market sell-off, a sectoral sell-off wearing the market's clothes. But now here's what makes Monday interesting. While technology was bleeding, the rest of the market quietly held the line. Power Grid was up, NTPC was up, Bharti Airtel, Titan, ITC, all green. The Nifty fell to a low of 23,902 in the morning, kissed that 24,000 mark from below, and the buyers stepped right back in and pushed it back over the line by the close…

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