Yesterday's EP34 pin trade paid 5 for 5. Sensex 77,844 inside the 78,000 magnet by 44 points. Pin held. Wing held. Bank Nifty held. Best card S2 has produced.

Then I opened the next-week chain. The wall doubled across 24,400 to 25,400. The floor slid down 500 points to 23,500. The pin moved up 50 points to 24,300 to 24,400. The chain priced a 5-day range of 23,924 to 24,776.

Then Brent reclaimed 100 overnight. Plus 4 dollars 34 cents. Asia cooled. Dollar Index firmed. The chain priced calm. The tape printed something else.

POV today: buy on dips continues. 24,000 is the level. Pro added 1.30 lakh long puts in one session, FII pressed all 3 legs short, Bank Nifty stays the lone long. Two desks, two tilts. And vol spike expected throughout the day, which means the wing isn't a hedge today. The wing is the trade.

Plus this ep ...