--- title: "Pro Just Reset. Day One Of May Series. Buy | The Tanmay Edge" description: ""The smartest desk on the chain doesn't take a side. It clears the book."Tuesday's monthly expiry printed and Pro went from plus 24,000 long futures" source_url: "https://www.rupeecase.com/podcast/episodes/2026-04-29" --- The Tanmay Edge, Season 2, EP29 # Pro just reset. Day one of may series. Buy dips with hedge Day one May series. Monthly plus weekly expiry printed yesterday Nifty 23,995.70 * **10:24**listen * **3/5**graded at settlement * **Wed 29 Apr 2026**aired, Season 2 Now playing Pro just reset. Day one of may series. Buy dips with hedge EP29, 29 Apr, 10:24 1x 0:00Chapter marks are estimated from the notes10:24 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 ## 3/5 at settlement. **3/5**60% **The call.** Daily * **2**Hit * **1**Partial * **1**Mechanical * **1**Miss Graded the next trading day, 30 Apr 2026, against NSE settlement. [The whole season, graded](/podcast/#trail)[April 2026 archive](/podcast/2026-04/)[Methodology](/track-record) 02In this episode ## 7 chapters, the numbers pulled out. 1. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 2. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 3. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 4. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 5. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 6. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's 7. **07**Sign-Off: education + pro reset day mechanicThe chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's Cold open: the smartest desk clears the book **23,894**Pro went from plus There is a thing that happens on monthly expiry day that almost nobody talks about. The smartest desk on the chain doesn't take a side. It clears the book. Yesterday, on Nifty's monthly plus weekly expiry stacked, Pro went from plus 23,894 long futures Monday Read the chapter Act 1: the print graded + calibration shift **23,995.70**Nifty closed **4.30**Direction missed **4 points**Right in concept **224.75**Range came EP28 called 24,000 to hold as floor on the print. Nifty closed 23,995.70. Direction missed by 4.30 points. The pin was right in concept and 4 points off on execution. But check the rest of that prediction set. Range came in 224.75, well under the 250 cap. VIX Read the chapter Act 2: the pro reset **23,894**Futures Monday close plus **85,628**Long calls Monday plus Here is the singular new fact of the day. Pro futures Monday close plus 23,894. Pro futures Tuesday close plus 962. The strongest bull structure of the season just liquidated in one session. Pro long calls Monday plus 85,628. Pro long calls Tuesday minus 9810. Read the chapter Act 3: the new chain rebuilt **7.38**Expiry now sits **3.75**Call OI **3.63**Million plus put OI **23,800**Put floor formed While Pro was clearing, the chain was rebuilding. Same centre. 24,000 for the 5 May expiry now sits at 7.38 million lines. Call OI 3.75 million plus put OI 3.63 million. That is the gravity for the next seven sessions. A new put floor formed at 23,800. Plus Read the chapter Act 4: overnight tape **94.55**USD INR held **49,248**Dow plus **0.64%**Lighter red **0.90%**Nasdaq finished minus Brent did not crack 112 like the AND gate would have wanted. It cooled. 110.43 this morning. Down 0.83. Still well above the 96 trigger, sixth session live, but the leg is not extending today. That is a small win. USD INR held 94.55. Did not break 95. The FX Read the chapter Act 5: the call. Buy dips with hedge **24,000**Million lines say **24,050**Open above **23,980**Buy zone **23,800**Hedge and wait My view is buy on dips with hedge. Unchanged from EP28. The conditions softened overnight, but the macro view did not. Buy on dips because. The chain rebuilt at the same centre. 7.38 million lines say 24,000 is the gravity. The May future closed plus 73 to Read the chapter Sign-Off: education + pro reset day mechanic **24,000**Chain rebuilt The chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's microstructure right now. Pro reset because the print released their book. The smart money has not abandoned the trade. It has cleared the desk. Education Read the chapter 03The notes ## Chapter by chapter. ### *01*Cold open: the smartest desk clears the book There is a thing that happens on monthly expiry day that almost nobody talks about. The smartest desk on the chain doesn't take a side. It clears the book. Yesterday, on Nifty's monthly plus weekly expiry stacked, Pro went from plus 23,894 long futures Monday close to plus 962 Tuesday close. That is a 96% crash in one session. They sold 95,438 net long calls in the same window. Crashed both directional legs to flat by the bell. This is not bearish. This is a reset. The print released the conviction. And it means day one of the May series opens with no smart money tell to ride. Wednesday 29 April. Day one of the May cycle. Let me walk you through what changed at the print, what the chain rebuilt overnight, and why I am still buying dips today with a hedge underneath. ### *02*Act 1: the print graded + calibration shift EP28 called 24,000 to hold as floor on the print. Nifty closed 23,995.70. Direction missed by 4.30 points. The pin was right in concept and 4 points off on execution. But check the rest of that prediction set. Range came in 224.75, well under the 250 cap. VIX closed 18.05, under the 18.37 mark. The 24,300 ceiling was never tested, with high 24,181. Three out of five hits, two narrow misses. This is now six sessions running where the framework reads correct and the levels miss by 30 to 50 points. Same pattern. And I think I finally understand why. When the AND gate is live, when Brent is extending day after day, when USD INR keeps stepping wider, the magnet does not bounce off the level. It pulls slightly through. That is the calibration shift we are working with going into May series day one. The 24,000 magnet pulled spot through by 4 points yesterday. Closed below by a hair. Now the chain has rebuilt, fresh, at the same number for the next cycle. ### *03*Act 2: the pro reset Here is the singular new fact of the day. Pro futures Monday close plus 23,894. Pro futures Tuesday close plus 962. The strongest bull structure of the season just liquidated in one session. Pro long calls Monday plus 85,628. Pro long calls Tuesday minus 9810. They sold 95,438 calls net. Cleared the upside book completely. This is mechanical, not directional. Monthly expiry releases stacked positions. The smart money books P&L on the expiring chain and doesn't always roll the same conviction into the new cycle. They start from zero. Which means reading Pro positioning the day before monthly expiry was correct. Reading it on the day of, or the day after, is reading stale information. Day one of the new monthly has no Pro tell. We have to wait day two and day three for them to re-establish before we can read the next cycle's bias. So the question this morning is not what is Pro doing. The question is what does Pro re-establish by Wednesday close. That is the read of the week. ### *04*Act 3: the new chain rebuilt While Pro was clearing, the chain was rebuilding. Same centre. 24,000 for the 5 May expiry now sits at 7.38 million lines. Call OI 3.75 million plus put OI 3.63 million. That is the gravity for the next seven sessions. A new put floor formed at 23,800. Plus 0.90 million fresh contracts in one session. GEX minus 501. That is the structural floor for the week. A new call wall formed at 24,200. Plus 1.53 million fresh contracts. GEX plus 833. That is the ceiling. The straddle at 24,000 prints 426 rupees. One standard deviation times 1.25 gives 533 points. Wednesday to next Monday expected band 23,463 to 24,528. The May future closed 24,069. Plus 73 premium to spot. The next cycle rolled in bullish skew. June future plus 205 premium. The futures curve is leaning long even on a day when Pro went flat. This is the FII pair trade signature. They covered 35,303 short futures yesterday on a red day. Covered 84,761 short calls. Added 15,758 long puts to a season-high 3,43,512. The book got smaller and tighter. Pair ratio expanded 4.37 to 4.66. They are de-risking around the print, not abandoning the structural bull stance. ### *05*Act 4: overnight tape Brent did not crack 112 like the AND gate would have wanted. It cooled. 110.43 this morning. Down 0.83. Still well above the 96 trigger, sixth session live, but the leg is not extending today. That is a small win. USD INR held 94.55. Did not break 95. The FX leg is flat overnight. Both AND gate legs are still firing, but neither is widening this morning. US closed cleaner than the mid-evening read suggested. Dow plus 106 at 49,248. S&P minus 35 down 0.49%, lighter red than the 0.64% slide at 8 PM. Nasdaq finished minus 223 down 0.90%. Recovered from the 1.15% mid-evening selling. No catastrophe overnight in tech. Asia is mixed, not red. Nikkei down 1.03%. Taiwan down 0.80%. But Hang Seng up 1.09%. Shanghai up 0.12%. Jakarta up 0.38%. KOSPI is closed for trading today, Children's Day in Korea. GIFT Nifty this morning 24,111. Up 11 points. That is plus 115 versus our Tuesday close 23,995. The relief gap rebuilt overnight, did not fade. We open on Wednesday well above the 24,000 magnet. The setup that looked threatened at 8 PM yesterday now looks constructive at 8 AM today. ### *06*Act 5: the call. Buy dips with hedge My view is buy on dips with hedge. Unchanged from EP28. The conditions softened overnight, but the macro view did not. Buy on dips because. The chain rebuilt at the same centre. 7.38 million lines say 24,000 is the gravity. The May future closed plus 73 to spot. FII pair trade ratio expanded, not collapsed. The structural bull frame is intact entering day one. With hedge because, and listen carefully. Wars is escalating. Iran is not budging. Crude is going harder on a 7 session run. The Hormuz tape will not cool. Brent stepped back to 110 today, but the trend is still up not down. This is not the moment to chase upside without a put underneath. The dip opportunity will come this week. Stay patient. 24,500 is the upside. 23,500 is the bottom end. Not without protection. Plan for Wednesday. Wait the first 30 minutes. Day one of new monthly with Pro at flat is the noisiest read of any cycle. Let the range establish. Branch A. Open above 24,050 and hold. Buy zone 23,980 to 24,050 on any pullback in the first half. Hedge with 23,800 PE for 5 May expiry, currently 129 rupees. Cap is 24,200, the new fresh wall. Trim if we get there. Branch B. Lose 24,000 in the first 30 minutes and no reclaim by 10. Not buying. Sit in the hedge and wait for 23,800 to test as support. Branch C. Brent prints 112 plus intraday or USD INR breaks 95. Regime changes. IV could expand 17.80 to 19 plus. Stand down on premium selling. Watch 76,500 Sensex for confirmation. Week becomes vol expansion not vol crush. The honest call. The buy is conditional on level. The hedge is mandatory regardless. The size is half of normal until day two when Pro re-establishes. ### *07*Sign-Off: education + pro reset day mechanic The chain rebuilt at 24,000 because that is where the structural maximum pain sits across this market's microstructure right now. Pro reset because the print released their book. The smart money has not abandoned the trade. It has cleared the desk. Education point of the day. Pro Reset Day Mechanic. Monthly expiry releases stacked positions. The smart money books P&L on the expiring chain and doesn't always roll the same conviction into the new cycle. Day one of new monthly has no Pro tell. Wait day two and three for re-establishment. Wednesday is the day to be patient. Buy quality dips with the hedge underneath. War, crude, currency. None of that resolves this week. None of it. The traders who win consistently are not smarter. They are earlier. You just got earlier. This was The Tanmay Edge episode 29. Streaming free on rupeecase.com, India's first systematic investing terminal we are building. Also on Apple Podcasts and Spotify. After these 30 episodes, would love to read your reviews. 04Key takeaways ## 20 things to carry into the session. * *01*Day one May series. Monthly plus weekly expiry printed yesterday Nifty 23,995.70 * *02*EP28 graded 3 of 5 hits. Pin 4 points off. Range 224.75 under 250 cap. VIX 18.05 under 18.37 * *03*Pro futures Monday plus 23,894. Tuesday plus 962. 96% liquidation in one session * *04*Pro long calls Monday plus 85,628. Tuesday minus 9810. Sold 95,438 calls net * *05*24,000 chain rebuilt fresh for 5 May expiry. 7.38 million lines. Call 3.75M plus put 3.63M * *06*New put floor 23,800. Plus 0.90M fresh contracts. GEX minus 501. Structural floor of the week * *07*New call wall 24,200. Plus 1.53M fresh contracts. GEX plus 833. New ceiling * *08*Straddle 24,000 at 426. 1SD times 1.25 gives 533 points. Band 23,463 to 24,528 * *09*May future 24,069. Plus 73 premium to spot. June future plus 205 premium. Curve leans long * *10*FII covered 35,303 short futures plus 84,761 short calls. Added 15,758 long puts to 3,43,512 * *11*FII pair ratio expanded 4.37 to 4.66. De-risking the print not abandoning the bull stance * *12*Brent 110.43 this morning. Down 0.83. AND gate sixth session live but not widening * *13*USD INR 94.55. Did not break 95. FX leg flat overnight * *14*Dow plus 106 at 49,248. S&P minus 0.49%. Nasdaq minus 0.90%. US recovered into close * *15*Asia mixed. Hang Seng plus 1.09%. Shanghai plus 0.12%. Jakarta plus 0.38%. KOSPI closed Korea Children's Day * *16*GIFT Nifty 24,111. Plus 115 versus close 23,995. Relief gap rebuilt overnight * *17*Branch A. Above 24,050 hold. Buy zone 23,980 to 24,050. Hedge 23,800 PE at 129. Cap 24,200 * *18*Branch B. Lose 24,000 first 30 min no reclaim by 10. Sit in hedge. Wait 23,800 test * *19*Branch C trigger. Brent 112 plus or USD INR break 95. IV expand 17.80 to 19 plus. Stand down * *20*RupeeCase positioned as India's first systematic investing terminal. EP30 review CTA Show all 20 05In his words The smartest desk on the chain doesn't take a side. It clears the book. This is not bearish. This is a reset. The print released the conviction. Day one of the new monthly has no Pro tell. 06Transcript ## The full episode, in text. Read the transcript Reading mode Copy link 1,023 words, about 5 min to read a very good morning guys there is a thing that happens on monthly expiry day that almost nobody talks about the smartest desk on the chain doesn't take a side it clears the book yesterday on nifty monthly expiry pros went from plus 24 000 long futures to plus 960 on tuesday's close that is a 96 crash in one session they sold 95 000 net Long calls in the same window as well. Crashed both directional legs to flat by the bell. This is not bearish. This is a reset. The print released the conviction. And it means day 1 of the May series opens with no smart money till to right. This is The Tanmay Edge episode 29. Wednesday. 37 mark we spoke about yesterday the 24 300 ceiling was never tested with a High of 24, 181. 3 out of 5 hits. That is what we are counting right now. And when the AND gate is live, when Brent is X. Extending day after day, when USDINR keeps stepping wider, the magnet does not bounce off the level. It pulls slightly through. That is the calibration shift we are working with going into May series day 1. And you have to listen to it. The 24,000 magnet pulled spot through by 4 points yesterday. Closed below by a hair. Now the chain has rebuilt fresh at the same number for the next cycle. And here's the singular new fact of the day. pro futures monday closed plus 24 000 pro futures tuesday close plus 900 contracts the strongest bull structure of the season just liquidated in one session this is a mechanical not directional monthly expiry releases stacked positions the smart money books pnl on the expiring chain and doesn't always roll the same conviction into the new cycle They start from zero, which means reading pro positioning the day before monthly expiry was correct. Reading it on the day of the or the day after is reading the stale information. Day one of the new monthly has no pro tell. We have to wait day or two for them to reestablish before we can read the next cycle bias. So the question this morning is not what is pro doing? The question is, what does pro reestablish by Wednesday's close? 53 million fresh contracts. GEX is plus 833 over there. That is the new ceiling we have to look out. So the Stadel at 24,000 prints at 426. One standard deviation gives me a 533 points move Wednesday to next Monday. So the expected band on the spot remains at 23,450 on the bottom side to 24,550 on the upside. 15 percent mid evening no catastrophic overnight in the tech side Asia is mixed, not red. Nikkei is down by a percent. 8%. 09%. 12%. 38%. Kospi is closed for trading today. The broad red read from yesterday evening did not extend. And Gift Nifty this morning is up by 11 points. That is plus 115 versus our Tuesday's close of 23,995 and trading around 24,000 triple 1. 3 million lines say 24 000 is the gravity the may future closed plus 73 to the spot if our pair trade ratio expanded not collapsed the structural bull frame is intact entering day one with hedge because and listen carefully wars is escalating iran iran is not budging Crude is going harder on a 7 session run. The Hormuz tape will not cool easily. Brent stepped back to 110 today. But the trend is still up not down. This is not the moment to chase upside without a put underneath. The dip opportunity will come this week. Stay patient. 24,500 is the upside. 23,500 is the bottom end. It always does in this regime. But not without protection. So my plan for Wednesday, wait for first 30 minutes, day one of the new monthly expiry. At flat, pros at flat is the noisiest trade of the cycle. Let the range get established. Watch how 24,000 behaves on the gap up. If we open above 24,050 and hold, buy zone is 23,980 to 24,050 on pullback in the first half. Hedge with 23,800 put for 5th May expiry, currently trading around 129 rupees. That is your insurance. Cap is 24,200 for now. The new fresh wall will get created. Trim if we get over there. If we lose 24,000 in the first 30 minutes and do not reclaim by 10am, I am not buying. I sit in the hedge and wait for 23,800 to test as support. That is a structural floor which is present. If Brent prints 112 plus intraday or USDINR breaks 95, the regime changes. 80 to 19 plus. That is the expectation. Stand down on premium selling if that happens. Watch 76,500 Sensex for confirmation. and accept that the week is going to be wall expansion not wall crush the honest call i am not pretending i have a stronger one than them the buy is conditional on level the hedge is mandatory regardless the size is half of the normal until day two or day three of the monthly series you do not need a directional call today you need to read which way pros and you should re -establish by tonight's close that's the number is the call of the week the chain rebuilt at 24 000 because that is where the structural maximum pain sits across this my market microstructure right now is pro reset because the print released their book the smart money has not abandoned the trade it has cleared the desk wednesday is the day To be patient, buy quality dips with the hedge underneath. War, crude, currency, none of that resolves this week. None of it will get solved overnight. The traders who win consistently are not smarter. They are earlier. You have just gotten earlier, guys. com, India's first systematic investing terminal that I am building. Also streaming on Apple, Spotify. So if you like this podcast, Please give it a thumbs up and give it a rating and would love to read your reviews after these 30 episodes. Questions ## EP29, in plain words. What does EP29 of The Tanmay Edge cover?EP29, Wednesday 29 Apr 2026, 10:24, in 7 chapters: Cold open: the smartest desk clears the book; Act 1: the print graded + calibration shift; Act 2: the pro reset; Act 3: the new chain rebuilt; Act 4: overnight tape; Act 5: the call. Buy dips with hedge; Sign-Off: education + pro reset day mechanic. How did the calls in EP29 score?Grade 3/5 (60 percent): 2 hit, 1 partial, 1 mechanical, 1 miss. Graded the next trading day, 30 Apr 2026, against NSE settlement. 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 7.4INR, FII Flows, and Global Market Linkages10 min read](/learn/path-7/module-7-4-inr-fii-flows-global-linkages) * [Free module 3.1The Momentum Factor11 min read](/learn/path-3/module-3-1-momentum-factor-deep-dive) * [Free module 4.3Rebalancing Strategies9 min read](/learn/path-4/module-4-3-rebalancing-strategies) 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. 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