--- title: "Opened At The Low. Closed At The Magnet. | The Tanmay Edge" description: "At nine in the morning the screen was red and half the market reached for the exit. By half past three it was green, and Nifty had walked all the way back to" source_url: "https://www.rupeecase.com/podcast/episodes/2026-06-03" --- The Tanmay Edge, Season 2, EP52 # Opened at the low. Closed at the magnet. EP51 graded four out of five best card in weeks * **9:29**listen * **3/5**graded at settlement * **Wed 3 Jun 2026**aired, Season 2 Now playing Opened at the low. Closed at the magnet. EP52, 3 Jun, 9:29 1x 0:00Chapter marks are estimated from the notes9:29 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.** Sensex Expiry Eve * **3**Hit * **1**Partial * **0**Mechanical * **1**Miss Graded the next trading day, 4 Jun 2026, against NSE settlement. 1. **Partial**the Nifty held its 23,300 support but never cleared the upside into the close. Script graded it three of five. Owned. 2. **Partial**the Nifty held its 23,300 support but never cleared the upside into the close. Script graded it three of five. Owned. 3. **Partial**the Nifty held its 23,300 support but never cleared the upside into the close. Script graded it three of five. Owned. [The whole season, graded](/podcast/#trail)[June 2026 archive](/podcast/2026-06/)[Methodology](/track-record) 02In this episode ## 7 chapters, the numbers pulled out. 1. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 2. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 3. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 4. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 5. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 6. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty 7. **07**The plan: lean with IT, respect 74,000On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty Cold open: eP51 graded four out of five **23,229**Downside, the low **23,557**Ceiling, the high **3.83 percent**Index closed **9058 crore**Keep buying, they bought At nine o'clock yesterday morning the screen was red and half the market reached for the exit. By half past three it was green, and price had walked all the way back to where the week began. That round trip is the whole story. This is The Tanmay Edge. You are Read the chapter Tuesday decoded: open was the low, close was the magnet **23,229**Nifty gapped **23,500**Percent, right back **74,649.84**Same thing, closing **0.20**Barely positive Nifty gapped down to 23,229 at the open, and that open was the low of the entire day. From there, every dip got bought. The high was 23,557 in the afternoon, and the close was 23,483.55, up 0.43 percent, right back on 23,500, the level the chain wanted all Read the chapter Under the bonnet: one engine, heavy train **6.53 percent**TCS closed **4.08**HCL Tech **2.89 percent**NTPC fell **1.88**Axis Bank fell One sector did everything. IT. TCS closed up 6.53 percent. Infy up 5.66. HCL Tech up 4.08. The IT index up 3.83 as a block, all of it imported straight from another record night on the Nasdaq. And against that, the rest bled. NTPC fell 2.89 percent. Axis Bank Read the chapter The standoff: foreigners short, homes buying **7824 crore**Foreign desks sold **2,80,000**Short the index, almost On the flows, the foreign desks sold 7824 crore in the cash market and the homes bought 9058 and soaked it all up, the pattern that has held for weeks. But the tell most people miss is in the futures. Those same foreign desks are sitting net short the index Read the chapter The overnight: crude climbs into a rate decision **23,487**Nifty is flat **2.51 percent**Split, the Nikkei **1.92**Percent and Taiwan **1.30**Hong Kong GIFT Nifty is flat at 23,487, no edge either way at the open. Asia is split, the Nikkei up 2.51 percent and Taiwan up 1.92, but Hong Kong down 1.30. Overnight both the S&P at 7609 and the Nasdaq at 27,093 sat at fresh records. The number that actually moved is Read the chapter The Sensex book: boxed in at 74,900 **74,900**Max pain sits **73,000**Downside protection **1.3**Million contracts, with another **76,000**Upside bets Today is the one day before the Sensex weekly settles. The Nifty weekly already settled yesterday, so the action sits in the Sensex, and the option book there is leaning supportive. For tomorrow's expiry there are eleven puts on the book for every ten calls Read the chapter The plan: lean with IT, respect 74,000 **75,000**Sensex, is the magnet **74,000**Magnet, the first ceiling **23,300**Nifty, is the centre **23,557**Protection sit On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty, 23,500 is the centre, 23,300 the support where about 5 million contracts of protection sit, and 23,557 the ceiling. If IT leads again and the Sensex Read the chapter 03The notes ## Chapter by chapter. ### *01*Cold open: eP51 graded four out of five At nine o'clock yesterday morning the screen was red and half the market reached for the exit. By half past three it was green, and price had walked all the way back to where the week began. That round trip is the whole story. This is The Tanmay Edge. You are listening to episode 52. I am Tanmay Kurtkoti. Let's go. Five calls on EP51. 23,145 holds on the downside, the low was 23,229, hit. 23,600 stays a ceiling, the high was 23,557, hit. IT leads, the IT index closed up 3.83 percent, hit. The fear gauge stays above 15, it slid to 15 and kept falling, miss. And the homes keep buying, they bought 9058 crore, hit. Four out of five. The best card we have shown in weeks. ### *02*Tuesday decoded: open was the low, close was the magnet Nifty gapped down to 23,229 at the open, and that open was the low of the entire day. From there, every dip got bought. The high was 23,557 in the afternoon, and the close was 23,483.55, up 0.43 percent, right back on 23,500, the level the chain wanted all along. Thirty four stocks up, sixteen down. Sensex did the same thing, closing at 74,649.84, up 0.52 percent, and the bank index was barely positive, up 0.20. ### *03*Under the bonnet: one engine, heavy train One sector did everything. IT. TCS closed up 6.53 percent. Infy up 5.66. HCL Tech up 4.08. The IT index up 3.83 as a block, all of it imported straight from another record night on the Nasdaq. And against that, the rest bled. NTPC fell 2.89 percent. Axis Bank fell 1.88. ICICI down 1.06. Power Grid down 1.38. So the headline was green, but it was one engine pulling a very heavy train. ### *04*The standoff: foreigners short, homes buying On the flows, the foreign desks sold 7824 crore in the cash market and the homes bought 9058 and soaked it all up, the pattern that has held for weeks. But the tell most people miss is in the futures. Those same foreign desks are sitting net short the index, almost 2,80,000 contracts of bearish bets, even while they keep selling the cash. They are positioned for a fall. The homes are buying the dip. That standoff is the entire market right now. A rally built on one sector is strong and fragile at the same time. If that one engine cools for even a single session, there is nothing underneath to catch the index. ### *05*The overnight: crude climbs into a rate decision GIFT Nifty is flat at 23,487, no edge either way at the open. Asia is split, the Nikkei up 2.51 percent and Taiwan up 1.92, but Hong Kong down 1.30. Overnight both the S&P at 7609 and the Nasdaq at 27,093 sat at fresh records. The number that actually moved is crude. Brent has climbed to 96.76, up nearly 3 dollars in two sessions, and it is knocking on 97. WTI is at 94.60. Gold eased to 4478. The dollar index is steady at 99.21 and the rupee at 95.27. Crude is the one going the wrong way at exactly the wrong time. On Friday the Reserve Bank gives its rate decision, and oil is the single biggest input into how much room it has. At Brent near 100 that room shrinks. The 10 year is already sitting right at 7 percent. Watch crude this week as a rate story, not just an energy story. ### *06*The Sensex book: boxed in at 74,900 Today is the one day before the Sensex weekly settles. The Nifty weekly already settled yesterday, so the action sits in the Sensex, and the option book there is leaning supportive. For tomorrow's expiry there are eleven puts on the book for every ten calls, more downside protection than upside bets. Max pain sits at 74,900 and we closed just under it at 74,650, so there is a gentle pull upward into tomorrow. The heaviest pile of downside protection is at 73,000, almost 2 million contracts, with another 1.3 million at 74,000. The biggest wall of upside bets is at 76,000, 1.8 million. The book is boxed in, 74,000 below, 76,000 above, 74,900 the centre of gravity. ### *07*The plan: lean with IT, respect 74,000 On the Sensex, 74,900 is the magnet, 75,000 the first ceiling, 74,000 the line that has to hold. On the Nifty, 23,500 is the centre, 23,300 the support where about 5 million contracts of protection sit, and 23,557 the ceiling. If IT leads again and the Sensex holds 74,900, lean with the grind toward 75,000, and only above 75,000 does 76,000 come into view. If 74,000 or 23,300 breaks and stays broken for fifteen minutes, step back, next stop 73,500 then 73,000. Two trip wires. Brent above 97, already live at 96.76. And the 10 year above 7.05, near 7 this morning. Small account, do not pick a direction the day before expiry with a rate decision two days out. Buy one Sensex put below the market and one call above it for tomorrow, defined risk, and you own the move either way. Thursday the Sensex settles, Friday the rate decision lands. Keep it light. 04Key takeaways ## 20 things to carry into the session. * *01*EP51 graded four out of five best card in weeks * *02*23,145 held downside low was 23,229 hit * *03*23,600 ceiling held high was 23,557 hit * *04*IT led IT index up 3.83 percent hit * *05*Fear gauge stay above 15 missed slid to 15 and falling * *06*DII bought 9058 crore hit * *07*Nifty open 23,229 was the low of the day * *08*Nifty closed 23,483.55 up 0.43 percent back on 23,500 * *09*Sensex closed 74,649.84 up 0.52 percent * *10*Breadth 34 stocks up 16 down * *11*TCS up 6.53 Infy up 5.66 HCL Tech up 4.08 * *12*NTPC down 2.89 Axis down 1.88 Power Grid down 1.38 * *13*FII sold 7824 crore cash DII bought 9058 crore * *14*FII net short index futures almost 2,80,000 contracts * *15*GIFT Nifty flat 23,487 Nikkei up 2.51 Hong Kong down 1.30 * *16*S&P 7609 Nasdaq 27,093 fresh records overnight * *17*Brent 96.76 up nearly 3 dollars knocking on 97 WTI 94.60 * *18*India 10Y at 7 percent dollar index 99.21 rupee 95.27 * *19*Sensex Thu chain 11 puts for every 10 calls max pain 74,900 * *20*Sensex walls 73,000 and 74,000 puts below 76,000 calls above Show all 20 05In his words That open was the low of the entire day. From there, every dip got bought. The headline was green, but it was one engine pulling a very heavy train. They are positioned for a fall. The homes are buying the dip. That standoff is the entire market right now. 06Transcript ## The full episode, in text. Read the transcript Reading mode Copy link 1,316 words, about 6 min to read A very good morning, guys. At 9 o'clock yesterday morning, the screen was completely red. Half the market had reached for the exits. And by close, it was all green once again, and the price had walked all the way back to where the week had begun. This round trip is the whole story for today. This is The Tanmay Edge. You are listening to episode 52, and I am Tanmay Kurtkoti. Let's go. So let me close out yesterday's calls first. We spoke on 5 calls. 23,145 should hold on the downside. The low was 23,229. It was a hit. 23,450 to 500 happens as an expiry zone, and the expiry happened right between that. Then IT should lead. 83 percent. 23,500 to 600 would be the ceiling. 23,600 was the ceiling, 23,557 was hit. The fear gauge staying above 15 was the only call that was a miss. The DIIs bought another 9054 crore of equities, that was expected. So here is what actually happened yesterday and what we are looking at today as well. Nifty gapped down yesterday to 23,229 at the open, and the open was the low of the entire day. From there, every dip was bought. 43 percent, right back on that 23,500 level the chain wanted all week and was building for. 34 stocks up, 16 down. 2 percent up. Now look underneath, because this is the part that matters. One sector did everything: IT. 53 percent. 66 percent. HCL Tech was up 4 percent. 83 percent as a block, all imported straight from another record night on the Nasdaq. And against that, the rest bled. 89 percent. 88 percent. ICICI down 1 percent. 38 percent. So the headline was green, but it was one engine pulling a heavy train. That is what happened yesterday. And on the flows, the FIIs sold 7824 crore in the cash market and the DIIs bought 9058 crore. The pattern that held for weeks is going on once again. But here is the tell most people are missing. In the futures, these same FIIs are sitting net short, almost 2,80,000 contracts of bearish bets, even while they kept selling the cash. They are positioned for a fall, and the DIIs are buying the dip, and the market is not going anywhere. And that is today's point, and the delicate one. A rally built on one sector is strong and fragile at the same time. Strong, because global technology is genuinely bid and our IT names are riding the global rally. Fragile, because if that one engine cools off for even a single session, there is nothing underneath to catch the index. The banks and PSUs were the sellers yesterday, not buyers. So today's question is simple: does IT show up for the second day, or does the rest of the market suddenly have to find a bid, and we see broader-base buying happening. So here is what Wednesday morning is looking like. GIFT Nifty is trading flat at 23487, so it's a flat open. Asia is split down the middle. 92 percent, and that is the technology tailwind we are seeing. 3 percent. The US overnight, both S&P and Nasdaq set fresh record highs, with Dow futures currently trading flat, and Europe closed higher yesterday. We are looking at a flat opening on GIFT Nifty. Now let's look at the numbers that actually moved overnight on the commodities as well. 76, up 3 dollars in two sessions, and it is knocking on 97. WTI is at 94. Gold has eased to 4478. 25 mark. One way, and the wrong way, at exactly the wrong time. Because on Friday the RBI gives its rate decision, and the price of oil is the single biggest input in how much room it has. India imports most of its oil. At Brent 88 the bank has room. At Brent 100 dollars that room shrinks a lot, because expensive oil feeds straight into the inflation a month out. Every dollar crude adds this week quietly takes a card out of the dovish hand, and we are probably going to see that on Friday. And the bond market is already nervous about it. The 10-year yield is sitting right at that 7 percent horizon. So watch crude this week as the rate story unfolds, not just an energy story. Now the calendar, because today is 1DTE for the Sensex weekly expiry. The Nifty weekly has settled yesterday, so the action sits in Sensex, and the option book there is leaning supportive. For tomorrow's expiry, there are 11 puts on the book for every 10 calls, so more downside protection than upside bets. The level where most option buyers walk away with nothing sits at 74900, that is the pin strike we are looking at, and that is very close to the round number of 75000, and we have closed just under it at 74,650. 3 million sitting at 74,000 that stands as a major support, the second-biggest support. 8 million contracts present over there. So the book is boxed: 74,000 to 76,000 is the 2000-point range we are looking at, and 74,900 or 75,000 is exactly at the middle. So here is the plan, and I'm keeping the levels tight, not wide. On Sensex, 74,900 is the magnet, 75,000 is the first ceiling above it, so 74,000 is the line at which the market should take support. On Nifty, 23,500 is the center, 23,300 is the support, and 23,600 is the ceiling for now. Step 1: if IT leads back again today, Sensex holds that 74900, then 75,000 first thing, and only above 75,000 we are going to go long. Till 75,000 doesn't break, the long doesn't go into action. Step 2: if 74600, where the markets close currently, breaks down and stays broken for the first 15 to 30 minutes, the next stop would be 74,000 and then 73,500. Do not chase the first break or the first breakdown happening in the first 15 to 30 minutes. Stay put. 76 right now, so that one is already live. 05 mark, it is seven this morning. So either one firing turns the banks and the rate-sensitive names soft, so in that session the one-engine rally runs out of cover. So that is the step 3 you have to watch for. So if you run a small account, guys, do not pick a direction the day before an expiry with rate decisions coming in the next two days. So the easiest way is, buy one Sensex put below the market and one Sensex call above the market, a few hundred rupees to pay, a defined-risk structure, and you own the move in either direction. A quiet day, you will lose half of the premium. Crude or the rate chatter cracks it open, you are on the right side of the trade of a fast move without guessing which way it went. That is the only exposure I would carry into this stretch. And the same rule as last week applies. Whatever happens by 3:30 today, keep it light, don't carry your positions tomorrow. Friday the decision lands on RBI as well, tomorrow is the expiry, two events in the next three days. This is not a week to hold an oversized position overnight. So have a great Wednesday, guys. One recovery, one magnet, one oil climbing into a rate decision. IT while it leads, respect 74,000 on the support side, and keep 75,000 as the cap. Keep crude on the same screen as the price. So this was The Tanmay Edge, guys. If you found value in this, please share it with one trader friend who needs it right now. com where it streams first. And give a rating, guys, and a review. I am waiting for your reviews. If you want to add something in the podcast as well. Questions ## EP52, in plain words. What does EP52 of The Tanmay Edge cover?EP52, Wednesday 3 Jun 2026, 9:29, in 7 chapters: Cold open: eP51 graded four out of five; Tuesday decoded: open was the low, close was the magnet; Under the bonnet: one engine, heavy train; The standoff: foreigners short, homes buying; The overnight: crude climbs into a rate decision; The Sensex book: boxed in at 74,900; The plan: lean with IT, respect 74,000. How did the calls in EP52 score?Grade 3/5 (60 percent): 3 hit, 1 partial, 0 mechanical, 1 miss. Graded the next trading day, 4 Jun 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. 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