Last episode the pros bought volatility at the lows. One session later, the trap sprang — Nifty lost 24,000, closing 23,946, and India VIX ROSE to 13.56 on a down day. Today is the heaviest settlement on the calendar: the Nifty weekly, the Nifty and Bank Nifty monthly, the June quarterly, and the half-yearly long-dated and LEAPS series all expire on one close. Tanmay breaks down why a RISING fear gauge into a max-settlement expiry flips the entire expiry-day playbook — why the max-pain magnet at 24,000 loses its grip, where the real support now sits, and how the smart money just repositioned.

In this episode:

- Why Monday's breakdown was broader than the headline (2,036 stocks down vs 1,330 up) — and India fell while the world rallied

- The defensive rotation: autos and banks out (Bank Nifty lost 58,000), pharma and powe ...