Yesterday Korea had a Black Monday and Indian IT walked in and bought the dip. Overnight that same chip selling crossed into America and crude broke 80. So we gap down onto 24000 again, on Nifty weekly expiry. Episode 80 is a news podcast with a twist, and the read is: still a buyer of dips, but with caution now, and never without insurance.

The tape first. The Hormuz news gapped the Sensex down 700 at the bell and IT bought the whole thing back. Nifty made its low at 24000.20, the 24000 line held to the tick, and it closed 24211, dead on the 24200 pin. IT led up 3.59 percent, TCS up 5.43, HCLTech up 5.02 after a beat, profit 4,626 crore, up 20 percent on the year. But under the green screen the FIIs sold 3,062 crore of cash while the DIIs bought 2,172 crore to absorb it, so the buyer was domestic money and IT, not the foreign desks. June i ...