--- title: "The 23,000 Test, Clients Unwind, VWAP | The Tanmay Edge" description: "The 23,000 Test, Clients Unwind, VWAP Magnet. The Tanmay Edge EP05, 20 Mar 2026: pre-market analysis for Indian markets in 7 minutes." source_url: "https://www.rupeecase.com/podcast/episodes/2026-03-20" --- The Tanmay Edge, Season 2, EP05 # The 23,000 test Clients unwind, VWAP magnet Crude is pulling back from $111 to $105, the inflation pressure that * **6:40**listen * **Pre trail**before the public trail * **Fri 20 Mar 2026**aired, Season 2 Now playing The 23,000 test EP05, 20 Mar, 6:40 1x 0:00Chapter marks are estimated from the notes6:40 The host did not serve the audio here. Listen on [Apple Podcasts](https://podcasts.apple.com/us/podcast/the-tanmay-edge-indias-pre-market-edge-5-minutes/id1824088016) or [Spotify](https://open.spotify.com/show/0F755kaD5hggGDjy26Sz33). 01Scorecard ## Before the public trail. This episode aired before the public prediction trail began on 29 Apr 2026, so it carries no grade on the five call scale and is not counted in the season hit rate. [The whole season, graded](/podcast/#trail)[Methodology](/track-record) 02In this episode ## 6 chapters, the numbers pulled out. 1. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green 2. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green 3. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green 4. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green 5. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green 6. **06**RupeeCase updateRupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green Market overview **687 points**Yesterday Nifty lost **101 pts**Nifty flipped green overnight Yesterday Nifty lost 687 points. This morning, GIFT Nifty is up 101. Today is Friday, monthly close. The VWAP magnets are set. Here's what the data says about where this goes. India's pre-market edge. Five minutes. Every trading day. I'm Tanmay Kurtkoti. Read the chapter F&O positioning "Sixteen years on these desks taught me one thing, the market always telegraphs. You just have to know where to look." Read the chapter Options & GEX analysis **₹7,558 crore**FIIs sold **21%**VIX spiked **22.74**VIX spiked **519 pts**Dow futures "That's not a prediction. That's preparation. There's a difference, and that difference is your edge." The data: FIIs sold ₹7,558 crores in cash yesterday and added back to futures shorts (now -2,28,952 contracts). VIX spiked 21% to 22.74. But this morning Dow Read the chapter Commodities & FX "You don't need more information. You need the right information, here's what matters today." Read the chapter Trading plan & levels **22,800**Lower end **24,000**Monthly VWAP **700 points**Market sold **23,400**Weekly VWAP 23,000 held, 6.75 lakh puts protected that level. The market's strongest natural support did its job. As long as it holds, the bias is towards recovery. Clients are still massively long. That means unwinding pressure is real today, especially in the first 30 Read the chapter RupeeCase update **0.98%**Quant fund outperformed **23,000**Rebalance on March RupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green stock. Rebalance on 23 March at 23,000. Track it at rupeecase.com. to RupeeCase: rupeecase.com, @TanmayKurtkoti, #TheTanmayEdge #Nifty23,000 #VWAP Read the chapter 03The notes ## Chapter by chapter. ### *01*Market overview Yesterday Nifty lost 687 points. This morning, GIFT Nifty is up 101. Today is Friday, monthly close. The VWAP magnets are set. Here's what the data says about where this goes. India's pre-market edge. Five minutes. Every trading day. I'm Tanmay Kurtkoti. Season 2, Episode 5. Let's go. GIFT Nifty flipped green overnight, +101 pts. Two days of selling, but this morning the market is saying the panic is temporary. A technical bounce is live. Nifty fell 687 points in two days. This morning GIFT Nifty is up 101. Does 23,000 hold, and where does the bounce go? ### *02*F&O positioning "Sixteen years on these desks taught me one thing, the market always telegraphs. You just have to know where to look." ### *03*Options & GEX analysis "That's not a prediction. That's preparation. There's a difference, and that difference is your edge." The data: FIIs sold ₹7,558 crores in cash yesterday and added back to futures shorts (now -2,28,952 contracts). VIX spiked 21% to 22.74. But this morning Dow futures are up 519 pts and Brent crude is pulling back from $111 to $105, the inflation pressure that triggered Thursday's fall is easing. ### *04*Commodities & FX "You don't need more information. You need the right information, here's what matters today." ### *05*Trading plan & levels 23,000 held, 6.75 lakh puts protected that level. The market's strongest natural support did its job. As long as it holds, the bias is towards recovery. Clients are still massively long. That means unwinding pressure is real today, especially in the first 30 minutes. Don't chase the gap up. Wait for the first wave to settle. My targets for today: upside 23,381 (weekly VWAP zone). Lower end 22,800 should hold. Range trade between these two levels is the high probability outcome on a Friday monthly close. The bigger picture: monthly VWAP at 24,000 is the gravitational pull for March expiry on 28th. The market sold 700 points in 2 days. But the monthly close magnet hasn't gone anywhere. Today's framework: 23,000 has 6.75 lakh puts written, it held yesterday and it's the floor. Weekly VWAP at 23,400 is the first bounce target. Monthly VWAP at 24,000 is the gravitational pull for the 28 March expiry. Clients are still massively long index futures, some unwinding pressure is likely in the first 30 minutes. Don't chase the gap up. Range today: 22,800 support, 23,381 upside target. ### *06*RupeeCase update RupeeCase quant fund outperformed by +0.98% alpha yesterday, even on the worst day. ONGC was the only green stock. Rebalance on 23 March at 23,000. Track it at rupeecase.com. to RupeeCase: rupeecase.com, @TanmayKurtkoti, #TheTanmayEdge #Nifty23,000 #VWAP #MonthlyClose #QCAlpha 04Key takeaways ## 1 things to carry into the session. * *01*Crude is pulling back from $111 to $105, the inflation pressure that 05In his words You don't need more information. You need the right information, here's what matters today. Sixteen years on these desks taught me one thing, the market always telegraphs. You just have to know where to look. That's not a prediction. That's preparation. There's a difference, and that difference is your edge. Questions ## EP05, in plain words. What does EP05 of The Tanmay Edge cover?EP05, Friday 20 Mar 2026, 6:40, in 6 chapters: Market overview; F&O positioning; Options & GEX analysis; Commodities & FX; Trading plan & levels; RupeeCase update. How did the calls in EP05 score?It aired before the public prediction trail began on 29 Apr 2026, so it is not graded on the five call scale and not counted in the season hit rate. Is The Tanmay Edge investment advice?No. It is market commentary for education only, not a recommendation to buy or sell any security. RupeeCase is not a SEBI registered investment adviser, and strategy figures on RupeeCase are model, back tested. Explore next ## Learn what the episode covers. * [Free module 6.9Gold, Commodities, and International Investing for Indian Investors8 min read](/learn/path-6/module-6-9-gold-commodities-international) * [Podcast archiveMarch 2026 episodesEvery call that month, graded](/podcast/2026-03/) * [Free module 7.3Inflation, Types, Measurement, and Investment Impact10 min read](/learn/path-7/module-7-3-inflation-types-measurement-investment-impact) * [Free module 7.4INR, FII Flows, and Global Market Linkages10 min read](/learn/path-7/module-7-4-inr-fii-flows-global-linkages) Community ## Join my WhatsApp group. Scan the code, fillFill one short form, and join my WhatsApp group. Slides, sources, factsheets and the rebalance logs live there, and members join a daily Google Meet with me. [Sign up for RupeeCase](https://invest.rupeecase.com/signup) [Join the WhatsApp group](https://forms.gle/C6HMtM1Z2GfeocQV7) [One form, one group](https://forms.gle/C6HMtM1Z2GfeocQV7)Scan with your phone camera 07Read next ## Behind the calls. [Learn, module 2.3Risk Metrics That MatterEvery strategy shows you a CAGR. Fewer show you the drawdown. Almost none explain what the Sharpe ratio actually means.Intermediate, 8 min](/learn/path-2/module-2-3-risk-metrics-that-matter)[Learn, module 6.6Derivatives: Futures and Options for the Systematic InvestorThe F&O market in India is one of the largest derivatives markets in the world by volume. Most retail participants loseIntermediate, 8 min](/learn/path-6/module-6-6-derivatives-futures-options) [StrategyEnergy Basket10 stocks from CNX Energy, rotated weekly. The thematic satellite.Model, back tested CAGR 33.1%, as of 27 Apr 2026. 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