S2EP24 | 24500 Broke. Call Writers Got Trapped. Now It's The Floor | 22nd April Wednesday
The Tanmay Edge | India's pre-market edge, every trading day... by Tanmay Kurtkoti
Episode notes
Tuesday's expiry pin failed. 24500 broke clean. The call writers stuck at the wall did not run. That broken ceiling is now the floor.
GIFT Nifty 24454 down 121. Brent 98.18 still above 96. USD INR 93.49 still above 93.40. Both wrong side tells armed.
FII Cash minus 1918 crore. DII Cash plus 2221 crore. FII still net short 173948 Nifty futures, sold 131k calls and bought 300k puts on a breakout day. Pro is long volatility. Client wrote 380k puts right at the wall. One book is wrong today.
Bias: buy on dips with hedge. 24400 to 24500 is the floor zone. Cheap IV after expiry crush makes hedged longs the right structure. Stops below 24350. Target 24500, then 24600. Tomorrow stacks 1DTE Sensex weekly with Infosys Q4 post close.
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