The Tanmay Edge | India's pre-market edge, every trading day.
S2EP67 | 24000 Cracked On Expiry. The Floor Is Now The Ceiling | 24th June Wednesday
Beschreibung
For three weeks, 24,000 was the floor. On expiry day it cracked. The Nifty held till 11:30, then let go straight through 24,000 and closed at the low — 23,824.10, down 278.80 (−1.16%), seven stocks up and forty-three down. The level you were buying is now the level you have to sell into. Today's read, all the numbers in one place: • Tue close: Nifty 23,824.10 (−278.80, −1.16%), range 23,784.95–24,135.50. Sensex 76,200.68 (−893.39, −1.16%). IT and metals led the fall — Infosys −3.36%, TCS −3.16%, Tata Steel −2.66%. Only four Nifty names green. • The why: global, not domestic. Korea fell ~10% Monday (circuit-breaker, chip rout), US Nasdaq −2% overnight, an everything-selloff with gold and crypto down too. • Flows: FII cash net FLAT (+₹18 Cr) on a 279-point down day; DII bought ₹680 Cr. The fall came through index futures and global beta, not cash selling. • Positioning (Pro → FII → Client): Pros flipped net short (−2,131). FII went deeper short — ~2.29 lakh contracts (added ~5,800), all three legs bearish. Client bought the dip — net long ~1.63 lakh, the crowd catching the knife. • The flip (30-Jun chain): 24,000 — the old floor — is now the biggest call wall of the month (~13.6M). Real support below is 23,500 (8.5M puts). PCR 0.78, call-heavy. • Max pain: 24,000 — the chain's magnet is still the broken floor. The whole week is a fight at that one number. • Premarket: GIFT Nifty 23,864 (+53), soft higher open. US tech −2% overnight, no help. Brent 76.41, crude a cushion. Gold under 4,100. USD/INR 94.73. India VIX 14. The plan: no expiry today, so no pin — it's an auction, a follow-through day. Sell the rallies, respect the broken level. Resistance 23,900 then 24,000; sell into it or let it prove itself. Support 23,800, 23,700, then the real floor 23,500. Only a clean reclaim and hold of 24,000 says the foreign shorts are covering. The education today: support becomes resistance. When a floor that held for weeks breaks, it flips into a ceiling — because the longs who bought it are now trapped underwater and sell into any bounce back to break-even. Their relief is your resistance. EP66 graded 3/8 — the pin thesis broke when 24,000 cracked, though the break-calls landed. Full scorecard at rupeecase.com [http://rupeecase.com]. Trade the level, not the opinion. Free and first on rupeecase.com [http://rupeecase.com], Apple Podcasts and Spotify — every trading morning at 8:30 AM IST. Data: NSE, BSE, NSDL.
2 Monate für 1 €
Dann 4,99 € / Monat · Jederzeit kündbar.
- Podcasts nur bei Podimo
- 20 Stunden Hörbücher / Monat
- Alle kostenlosen Podcasts
Alle Folgen
104 Folgen
Kommentare
0Sei die erste Person, die kommentiert
Melde dich jetzt an und werde Teil der The Tanmay Edge | India's pre-market edge, every trading day.-Community!