--- title: "FII Sold 4,206 Crore And Nifty Fell 5.75 | The Tanmay Edge" description: "Foreign institutions sold 4,206 crore of Indian shares on 16 July, the biggest cash sell of this run, and the Nifty closed down 5.75 points at 24,072.75." source_url: "https://www.rupeecase.com/podcast/episodes/2026-07-17" --- The Tanmay Edge, Season 2, EP83 # FII sold 4,206 crore and Nifty fell 5.75 points The writers moved both lines up, Reliance Q1 today, pros are selling the crowd its ticket FIIs sold 4206 crore of cash the biggest sell of this run and the Nifty closed down just 5.75 points * **11:25**listen * **2.5/5**graded at settlement * **Fri 17 Jul 2026**aired, Season 2 Now playing FII sold 4,206 crore and Nifty fell 5.75 points EP83, 17 Jul, 11:25 1x 0:00Chapter marks are estimated from the notes11:25 The host did not serve the audio here. Listen on [Apple Podcasts](https://podcasts.apple.com/us/podcast/the-tanmay-edge-indias-pre-market-edge-5-minutes/id1824088016) or [Spotify](https://open.spotify.com/show/0F755kaD5hggGDjy26Sz33). 01Scorecard ## 2.5/5 at settlement. **2.5/5**50% **The call.** Reliance Q1 Day No Index Expiry FII Sold 4,206 Cr Cash But Bought 1,994 Cr Index Futures And 1,308 Cr Stock Futures Nifty Futures 2,195 Cr Short Book 2,62,712 To 2,49,886 Covered 12,826 Long 5,34,167 Stock Futures Hedged Not Bearish DII 2,986 Cr Absorbed It All The 705 Cr Session Was A Calendar Not A Mood Correction Aired 24,000 Call OI Fell 7,47,565 Writers Added 7,55,040 At 24,100 And 10,79,910 At 24,150 Put Sellers Added 14,32,080 At 24,050 And 5,09,470 At 24,000 Both Lines Up Resistance 24,200 Carries 92,22,590 Calls Settle 24,100 PCR 0.83 GIFT 24,108.50 Flip 24,100 Amplify Below 24,050 Fade 24,180 To 24,200 Buy Dips 24,040 To 24,060 While 24,000 Holds Gap Branch Shipped Reliance 1296.60 Retail Long 10,94,177 Stock Calls Pro Short 5,26,622 Pro Long 1,26,560 Index Calls FII Short 2,18,883 IT Up 0.67 Fin Svcs Ex Banks Down 1.17 VIX 12.88 Straddle 270 * **2**Hit * **1**Partial * **0**Mechanical * **2**Miss Graded the next trading day, 21 Jul 2026, against NSE settlement. 1. **Miss**the on air gut, the mic said close below 24,000 and the market closed 24,334, the script had it right and the flinch did not. Two and a half out of five, the frame was right and the intraday gut overrode it. Lesson logged, trust the frame not the flinch. 2. **Miss**the on air gut, the mic said close below 24,000 and the market closed 24,334, the script had it right and the flinch did not. Two and a half out of five, the frame was right and the intraday gut overrode it. Lesson logged, trust the frame not the flinch. 3. **Miss**the on air gut, the mic said close below 24,000 and the market closed 24,334, the script had it right and the flinch did not. Two and a half out of five, the frame was right and the intraday gut overrode it. Lesson logged, trust the frame not the flinch. 4. **Miss**the on air gut, the mic said close below 24,000 and the market closed 24,334, the script had it right and the flinch did not. Two and a half out of five, the frame was right and the intraday gut overrode it. Lesson logged, trust the frame not the flinch. 5. **Miss**the on air gut, the mic said close below 24,000 and the market closed 24,334, the script had it right and the flinch did not. Two and a half out of five, the frame was right and the intraday gut overrode it. Lesson logged, trust the frame not the flinch. [The whole season, graded](/podcast/#trail)[July 2026 archive](/podcast/2026-07/)[Methodology](/track-record) 02In this episode ## 8 chapters, the numbers pulled out. 1. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 2. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 3. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 4. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 5. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 6. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 7. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 8. **08**The plan: trade 24,100, and this time theWe open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward Cold open: 4206 crore went out the door and the index did not move **4,206**Foreign institutions sold **5.75**Nifty closed Foreign institutions sold 4,206 crore of Indian shares yesterday. Biggest cash sell of this run. The Nifty closed down 5.75 points. Four thousand two hundred crore goes out the door and the index does not move. Somebody absorbed all of it. And when you find Read the chapter The participant book: they did not exit, they changed seats **4,206**Foreign institutions sold **1,994**Same session they bought **1,308**Index futures **2,195**Nifty futures alone Start with the official NSE participant book. Foreign institutions sold 4,206 crore in cash. In the same session they bought 1,994 crore of index futures and 1,308 crore of stock futures. Nifty futures alone, 2,195 crore bought. They sold the shares and bought Read the chapter The correction: the 76 percent collapse was a calendar, not a mood **77,200**Sensex pins **705 crore**Domestic institutions bought **2,928**Bought only crore against **76 percent**Got called Yesterday the call was that the Sensex pins at 77,200. It closed 77,186.87. Thirteen points. And the protection call was to own it because it was cheap, not because fear was rising. Fear fell again. Both landed. But one thing was wrong, and it gets corrected Read the chapter The chain: writers abandoned 24,000 and rebuilt both lines higher **7,47,565**Open interest fell **24,000**Sellers walked away **150 points**Abandoned and rebuilt **14,32,080**Put sellers added Nifty, 21st July expiry, off the official NSE closing data. At 24,000, call open interest fell by 7,47,565. The sellers walked away from 24,000. At 24,100 they added 7,55,040. At 24,150 they added 10,79,910, the biggest add on the board. The people selling Read the chapter Two numbers: 24,200 is the Wall, 24,100 is where it settles **92,22,590**Now carries **0.83**Call ratio sits **24,108.50**GIFT Nifty **24,100**Opening on top 24,200 now carries 92,22,590 calls. Largest on the board by a distance. That is your resistance and it is not close. 24,100 is where the whole 21st July chain settles if nothing changes. The put call ratio sits at 0.83, so for every 100 calls open there are Read the chapter Reliance day: the pros are selling the crowd its lottery ticket **10,94,177**Clients are net long **5,26,622**Desks are net short **1,26,560**Desks are net long **14,600**Index calls Reliance reports today, after the close. Roughly 8 percent of the index. It closed 1296.60, up 0.08 percent. Dead flat, doing absolutely nothing into its own result. Look at stock options in the participant book. Retail clients are net long 10,94,177 stock Read the chapter Sectors: a fourth straight day of the same split **1.66**HCL Tech **0.77**Tech Mahindra **1.17 percent**Services excluding banks **2.40 percent**Capital markets IT closed up 0.67 percent. Wipro up 1.77, HCL Tech up 1.66, Tech Mahindra up 0.77, and Infosys and TCS both added a little over half a percent. Financial services excluding banks, down 1.17 percent, 3 advances against 27 declines. Capital markets down 2.40 Read the chapter The plan: trade 24,100, and this time the dip has a branch **24,100**Tape drifts toward **24,180**Fade rallies **24,200**Fade rallies **92 lakh**Rallies into to where We open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 24,100. Below 24,050 they amplify it and moves get faster, not slower. That line is the whole day. Fade rallies into 24,180 to 24,200, where 92 lakh Read the chapter 03The notes ## Chapter by chapter. ### *01*Cold open: 4206 crore went out the door and the index did not move Foreign institutions sold 4,206 crore of Indian shares yesterday. Biggest cash sell of this run. The Nifty closed down 5.75 points. Four thousand two hundred crore goes out the door and the index does not move. Somebody absorbed all of it. And when you find out who, and what they did with the other hand, yesterday stops looking like selling. ### *02*The participant book: they did not exit, they changed seats Start with the official NSE participant book. Foreign institutions sold 4,206 crore in cash. In the same session they bought 1,994 crore of index futures and 1,308 crore of stock futures. Nifty futures alone, 2,195 crore bought. They sold the shares and bought the futures back. That is not an exit. That is the same bet, moved to a cheaper seat. And the short book proves it. They came into yesterday short 2,62,712 index futures and closed short 2,49,886. They covered 12,826 contracts, a second straight session of shrinking. Meanwhile they are long 5,34,167 stock futures and added to it. Long the shares, short the index. That is a hedged book, not a bearish one. It is not fear. It is plumbing. ### *03*The correction: the 76 percent collapse was a calendar, not a mood Yesterday the call was that the Sensex pins at 77,200. It closed 77,186.87. Thirteen points. And the protection call was to own it because it was cheap, not because fear was rising. Fear fell again. Both landed. But one thing was wrong, and it gets corrected on air. On Wednesday domestic institutions bought only 705 crore against 2,928 crore the day before. That got called a 76 percent collapse in the support under this market, and it got read as sentiment. Domestics losing conviction. It was not sentiment. It was mechanical. A very large domestic fund book was closing that week and the money was parked. Yesterday, with that out of the way, domestic institutions bought 2,986 crore. Straight back to normal. They took the entire foreign sell and did not blink. One session of low domestic buying was a calendar, not a mood. A plumbing event got read as a conviction event. That is the error, it is logged, and the support is intact. ### *04*The chain: writers abandoned 24,000 and rebuilt both lines higher Nifty, 21st July expiry, off the official NSE closing data. At 24,000, call open interest fell by 7,47,565. The sellers walked away from 24,000. At 24,100 they added 7,55,040. At 24,150 they added 10,79,910, the biggest add on the board. The people selling upside abandoned 24,000 and rebuilt 100 to 150 points higher. Same fingerprint as the Sensex last week. When a writer covers a strike and rewrites it higher, he is telling you he no longer thinks that level caps this market. The support did the same thing. Put sellers added 14,32,080 contracts at 24,050 and 5,09,470 at 24,000. They stacked the support up at 24,050. So both sides moved up. Resistance up, support up. That is a market being walked higher by the people who get paid to be right about where it stops. ### *05*Two numbers: 24,200 is the Wall, 24,100 is where it settles 24,200 now carries 92,22,590 calls. Largest on the board by a distance. That is your resistance and it is not close. 24,100 is where the whole 21st July chain settles if nothing changes. The put call ratio sits at 0.83, so for every 100 calls open there are only 83 puts. Call heavy. Read alone, that says heavy. Read next to where the calls actually moved, it says something else entirely. GIFT Nifty is at 24,108.50. We are opening on top of 24,100. The market is starting the day sitting exactly on the number the chain wants it to finish at. ### *06*Reliance day: the pros are selling the crowd its lottery ticket Reliance reports today, after the close. Roughly 8 percent of the index. It closed 1296.60, up 0.08 percent. Dead flat, doing absolutely nothing into its own result. Look at stock options in the participant book. Retail clients are net long 10,94,177 stock calls and they added to it. Proprietary desks are net short 5,26,622 stock calls and they added to that. The crowd is buying lottery tickets into earnings. The pros are the ones selling them the tickets. But on the index the pros are doing the opposite. Proprietary desks are net long 1,26,560 index calls, up about 14,600 in a session. Foreign institutions are short 2,18,883 of them. Pro long, foreign short. That pairing has been the strongest bull tell in this framework all year. So the pros are short the single stock story and long the index. They think the tape holds and the lottery tickets expire worthless. ### *07*Sectors: a fourth straight day of the same split IT closed up 0.67 percent. Wipro up 1.77, HCL Tech up 1.66, Tech Mahindra up 0.77, and Infosys and TCS both added a little over half a percent. Financial services excluding banks, down 1.17 percent, 3 advances against 27 declines. Capital markets down 2.40 percent, worst on the board. Realty down 0.98. Bank Nifty down 0.30 to 57,582. Four days now. This is not noise anymore, it is the regime. Money is leaving financials and going into technology, and the big bank results land over the weekend. Volatility closed 12.88, down 2.92 percent. Under 13, the calmest this market has been in the entire run. The straddle on Tuesday's 24,000 strike is 270. Here is the tension: 12.88 volatility, an 8 percent index weight reporting after the bell, and four big banks after that. The number lands when you cannot trade it. Friday is positioning. Monday is the gap. ### *08*The plan: trade 24,100, and this time the dip has a branch We open around 24,110, above the flip. Above 24,100 the desks dampen every move and the tape drifts toward 24,100. Below 24,050 they amplify it and moves get faster, not slower. That line is the whole day. Fade rallies into 24,180 to 24,200, where 92 lakh calls are sitting and they will defend it. Buy dips into 24,040 to 24,060, just inside the round number, only while 24,000 holds. And this time the branch ships with it, because three episodes running a dip level got handed out that never triggered on a gap. If we open above 24,120 and never trade back down, the dip is void. Do not chase it. You wait for the 24,180 to 24,200 fade or you do nothing. If we gap below 24,000 the dip is also void, that is the amplify zone, 23,900 opens underneath and you stand aside. A level you cannot reach is not a trade, it is a story. Protection into the weekend. Not because volatility is rising, it is not, it is at 12.88. Because it is cheap and the calendar is not. Reliance tonight. Banks Saturday. The gap is Monday and you cannot hedge it Monday morning. 04Key takeaways ## 20 things to carry into the session. * *01*FIIs sold 4206 crore of cash the biggest sell of this run and the Nifty closed down just 5.75 points * *02*Same session FIIs bought 1,994 crore index futures and 1,308 crore stock futures Nifty futures alone 2,195 crore * *03*FII index short book 2,62,712 to 2,49,886 covered 12,826 contracts a second straight session of shrinking * *04*FIIs long 5,34,167 stock futures and adding long the shares short the index a hedged book not a bearish one * *05*DIIs bought 2,986 crore and absorbed the entire foreign sell without blinking * *06*The 705 crore DII session was a fund book closing not a loss of conviction correction aired * *07*Sensex closed 77,186.87 against the 77,200 pin called yesterday a gap of 13 points * *08*Nifty 24,000 call OI fell 7,47,565 the sellers walked away from the strike * *09*Writers added 7,55,040 calls at 24,100 and 10,79,910 at 24,150 the biggest add on the board * *10*Put sellers added 14,32,080 contracts at 24,050 and 5,09,470 at 24,000 stacking support higher * *11*Both sides moved up resistance up and support up in the same session * *12*24,200 carries 92,22,590 calls largest on the board by a distance * *13*Nifty PCR 0.83 call heavy on the headline but the calls moved up not down * *14*GIFT Nifty 24,108.50 opening exactly on top of the 24,100 settle * *15*Reliance closed 1296.60 up 0.08 percent dead flat into its own Q1 print worth 8 percent of the index * *16*Retail net long 10,94,177 stock calls against proprietary desks net short 5,26,622 * *17*Proprietary desks net long 1,26,560 index calls up 14,600 in a session against FIIs short 2,18,883 * *18*IT up 0.67 percent a fourth straight day against financial services ex banks down 1.17 percent * *19*Capital markets down 2.40 percent worst on the board Bank Nifty down 0.30 to 57,582 * *20*India VIX 12.88 down 2.92 percent the calmest of the run with the Tuesday 24,000 straddle at 270 Show all 20 05In his words Four thousand two hundred crore goes out the door and the index does not move. Somebody absorbed all of it. They sold the shares and bought the futures back. That is not an exit. That is the same bet, moved to a cheaper seat. It is not fear. It is plumbing. 06Transcript ## The full episode, in text. Read the transcript Reading mode Copy link 1,410 words, about 6 min to read A very good morning guys, FIIs sold almost 4,206 crore of Indian shares yesterday, biggest cash sell we have seen in last 10 days. 75 points. 4,206 crore goes out of the door and the index does not move. Somebody absorbed it completely and when you find out who and what they did with the other hand yesterday stops looking like selling. This is The Tanmay Edge. You are listening to episode 83. I am Tanmay Kurtkoti. Let's go. So starting with yesterday first, FIIs sold 4,206 crore in cash. In the same session, they bought 1,994, almost 2,000 crore of index futures and 1,308 crore of stock futures. Nifty futures alone 2,195 crore bought. They sold the shares and bought the futures back. That is not an exit. That is the same bet, moved to a cheaper seat. And the short book proves it. FIIs came into yesterday short 2,62,712 index futures, almost at the highest point. They closed short yesterday at 2,49,886 so they covered almost 13,000 contracts yesterday. The short is shrinking for a second straight session. It has now come down two days in a row for the first time in the last 15-20 days. Meanwhile, they are long 5,34,167 stock futures and they added to that long the shares, short the index. That is a hedged book, not a bearish one. People keep reading the headlines that FIIs are selling and calling it fear. It is not fear, it is plumbing. Now the part that I owe you. 87. 13 points below 77,200 and I told you to own protection because it was cheap, not because fear was rising. Fear fell again, both landed but I also told you something that was wrong and I am correcting it on air. On Wednesday domestic institutions bought only 705 crore against 2,928 crore the day before. I called that a 76% collapse in support under this market and I read it as sentiment, domestics losing conviction. It was not sentiment, it was mechanical. A very large domestic fund book was closing that week and the money was parked. Yesterday with that out of the way, DIIs bought almost 3000 crore, 2,986 crore, straight back to normal. They took the entire FIIs selling and did not blink. One session of low domestic buying was a calendar, not a mood. I read a plumbing event as a conviction event. That is the error, it is logged and the support is still intact. Now the option chain and this is where today gets interesting. Because option writers just did the exact same thing they did to me last week. Nifty 21st July expiry, closing data is what I am looking at. At 24,000, call open interest fell by 7,47,565 contracts. The sellers walked away from 24,000. At 24,100, they added 7,55,040 contracts. At 24,150, they added 10,79,910 contracts. Biggest add on the board, read that slowly. The people selling upside, abandoned 24,000 and they rebuilt 100 to 150 points higher. Same fingerprint as the Sensex last week. When a writer covers a strike and rewrites it higher, he is telling you he no longer thinks that the level caps the market. The support did the same thing guys. Put sellers added 14,32,080 contracts at 24,050 and 5,09,470 contracts at 24,000. They stacked the support up at 24,050. So both sides moved up. Resistance up, support is also up. That is a market being walked higher by the people who get paid to be right about where it stops. So two numbers that matter today guys. 24,200 strike. That strike now carries 92,22,590 calls largest on the board by distance and that is your resistance. It is not close. 83. So for every 100 calls open there are only 83 puts. So call is heavy. Read alone that says heavy. Read next to where the calls actually moved. It says something else entirely. 50. We are opening on top of 24,100. The market is starting the day sitting exactly on the number the chain wants it to finish at. The trade the crowd is putting on right now and who is taking it. Reliance reports today after the close roughly 8% of the index. 08 percent dead flat doing absolutely nothing into its own result. Look at the stock options in the participant book guys. Retail clients are net long 10,94,177 stock calls and they added to it yesterday. Proprietary desks are net short 5,26,622 stock calls and they added to that as well. The crowd is buying lottery tickets into the earnings. The pros are the ones who are selling them those tickets. So but on the index the pros are doing the opposite. Proprietary desks are net long 1,26,560 index calls. Up about 14,600 in one session. FIIs are short 2,18,883 of them. Pro long foreign short. That pairing has been the strongest bull tell in this framework all year. So the pros are short the single stock story and long the index. They think the tape holds and the lottery tickets expire worthless. That is a very specific opinion and they are paid for it. Sectors and this is the fourth straight day of the same split. 77 percent and Infosys and TCS both added a little over half a percent. 17%. Three advances against 27 declines. 4% worst on the board. 98. 30 percent to 57,582. Four days now this is not noise anymore. This is a regime. Money is leaving financials and going into technology and the big banks results land over the weekend. 92% under 13 level. The calmest this market has been in the entire run. The straddle on Tuesday's expiry for 24,000 strikes is trading at 270 points. That is the market paying for a 270 point move by Tuesday and no more. Here is the tension guys. 88 volatility and 8 percent index weight reporting after the bell and four big banks after that. The number lands when you cannot trade it. Friday is positioning. Monday is the gap and then Saturday Sunday we can get some news on Iran war as well. So we open around 24,110 and what's the plan? So the plan is we are opening above the flip level and above 24,100. The desks dampen every move and the tape drifts towards that 24,100 level and we close almost flat. Below 24,050 I think today we are going to close below 24,000. They amplify it and the moves get faster not slower. That line is the whole day. So fade those rallies into 24,180 to 24,200 that is where those 92 lakh calls are sitting and they will defend it and that is your resistance. So buy the dips now at 24,040 or 24,050 levels. We are going to buy it below that 24,000 levels and this time I'm giving you a branch because three episodes running I handed you a dip level that triggered on a gap and you got nothing. If we open above 24,120 and never trade back down the dip is void. Do not chase it. You wait for 24,180 to 24,200 fade or you do nothing. If we gap below 24,000 the dip is also void that is the amplify zone and 23,900 opens underneath where the stop losses should be. A level you cannot reach is not a trade. It's a story. Lose 24,000 on real volume and put sellers who stacked those 14 lakh contracts at 24,050 are the ones getting run over. You do not want to be in front of that. Protection into the weekend is a must, guys not because volatility is rising. 5 because it is cheap and calendar is not. Reliance tonight, banks Saturday the gap is Monday and you cannot hedge it Monday morning. Have a great Friday guys. The foreigners did not sell, they changed seats. The domestics never left last week. The writers moved both lines higher and still the sentiment is bullish but we are waiting for the broader sentiment to pick up. And the pros are selling the crowd its Reliance lottery ticket. Trade 24,100 not your opinion. 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 to this podcast. See you all once again on Saturday. Questions ## EP83, in plain words. What does EP83 of The Tanmay Edge cover?EP83, Friday 17 Jul 2026, 11:25, in 8 chapters: Cold open: 4206 crore went out the door and the index did not move; The participant book: they did not exit, they changed seats; The correction: the 76 percent collapse was a calendar, not a mood; The chain: writers abandoned 24,000 and rebuilt both lines higher; Two numbers: 24,200 is the Wall, 24,100 is where it settles; Reliance day: the pros are selling the crowd its lottery ticket; Sectors: a fourth straight day of the same split; The plan: trade 24,100, and this time the dip has a branch. How did the calls in EP83 score?Grade 2.5/5 (50 percent): 2 hit, 1 partial, 0 mechanical, 2 miss. Graded the next trading day, 21 Jul 2026, against NSE settlement. Is The Tanmay Edge investment advice?No. It is market commentary for education only, not a recommendation to buy or sell any security. RupeeCase is not a SEBI registered investment adviser, and strategy figures on RupeeCase are model, back tested. Explore next ## Learn what the episode covers. * [Free module 7.4INR, FII Flows, and Global Market Linkages10 min read](/learn/path-7/module-7-4-inr-fii-flows-global-linkages) * [StrategyNifty 50 Equal Weight strategyNifty 50, 50 stocks, every 4 weeks](/strategies/nifty-50-equal-weight) * [Free module 1.3Indices & Benchmarks13 min read](/learn/path-1/module-1-3-indices-and-benchmarks) * [Free module 3.1The Momentum Factor11 min read](/learn/path-3/module-3-1-momentum-factor-deep-dive) Community ## Join my WhatsApp group. Scan the code, fillFill one short form, and join my WhatsApp group. 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