S2EP33 | The Wall Fails Today. 24500 Is Next | 6th May Wednesday
The Tanmay Edge | India's pre-market edge, every trading day... by Tanmay Kurtkoti
Episode notes
Yesterday I called the pin at 24000. Nifty closed 24051. Inside the zone by 51 points. Today the wall fails.
Brent cracked 5 dollars 73 cents overnight to 108.03. KOSPI ripped plus 5.87 percent on the Children's Day return. Hang Seng flipped green. GIFT Nifty up 193 points to 24303 = implied gap plus 252 above Tue close.
Pro three legs bullish into the close (covered 19394 short calls, added 5634 futures longs, cut 39440 long puts).
FII three legs bearish (added 5561 fresh shorts, wrote 20918 short calls, stacked 31059 long puts).
Client three legs same side as Pro (long futures, long calls, short puts trapped).
The 24300 wall was 12.61 million CE OI built plus 7.22 million Monday alone. The biggest single day call OI build of the May series. With Brent crack today, that wall is sticky paper not defense. Magnet 24000 ...