--- title: "The Support Moved Up To 24,400. The Pros | The Tanmay Edge" description: "4 straight green days, and on Monday the options board physically moved its floor up under this market. Traders added 1.21 crore fresh puts at 24,400, the" source_url: "https://www.rupeecase.com/podcast/episodes/2026-07-07" --- The Tanmay Edge, Season 2, EP75 # The support moved up to 24,400. The pros dropped their protection. Nifty expiry Nifty 24,430.35 plus 159.50 plus 0.66 percent fourth straight green day * **10:10**listen * **6/8**graded at settlement * **Tue 7 Jul 2026**aired, Season 2 Now playing The support moved up to 24,400. The pros dropped their protection. Nifty expiry EP75, 7 Jul, 10:10 1x 0:00Chapter marks are estimated from the notes10:10 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 ## 6/8 at settlement. **6/8**75% **The call.** Nifty Weekly Expiry Twin Put Walls 24,300 And 24,400 24,500 Ceiling Pros Dropped Protection * **5**Hit * **2**Partial * **0**Mechanical * **1**Miss Graded the next trading day, 8 Jul 2026, against NSE settlement. 1. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 2. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 3. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 4. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 5. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 6. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 7. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. 8. **Hit**US back and crude benign into expiry and TCS Thursday. Five hits two partials one miss, six out of eight, the map settled the index within 1.3 points of 24,400. [The whole season, graded](/podcast/#trail)[July 2026 archive](/podcast/2026-07/)[Methodology](/track-record) 02In this episode ## 8 chapters, the numbers pulled out. 1. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 2. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 3. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 4. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 5. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 6. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 7. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 8. **08**POV and plan: respect the pin, buy the dipsThe plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into Cold open: the floor physically moved up, and today we settle **1.21**Traders piled **24,400**Crore fresh puts **76 lakh**Fresh puts **24,552**GIFT Nifty Four green days, and on Monday the options board did something you should not skip past. The floor under this market physically moved up. Traders piled 1.21 crore fresh puts onto 24,400 and 76 lakh onto 24,300, the two biggest builds anywhere on the chain Read the chapter The tape: a four day green run on a short engine list **24,500**Never touched **58,291.50**Bank Nifty **11.82**India VIX **0.66 percent**Advanced, fell, on plus The official NSE close: Nifty 24,430.35, up 159.50 points, 0.66 percent, a fourth straight green day. The high was 24,458.65, so we never touched 24,500. Sensex 78,285.07, up 521. Bank Nifty 58,291.50, up 0.61 percent. India VIX 11.82, still asleep. Now the Read the chapter The flow: the foreign bid got louder **2,182**Net plus **1,355**Bigger than Friday's plus **925 crore**Net buyers too The foreign desk did not just stay a buyer, it got louder. Monday's official NSDL print: net plus 2,182 crore of equities bought on the exchange. That is the second straight buying day, and it is bigger than Friday's plus 1,355 crore. The buying accelerated Read the chapter The positioning: the pros dropped their protection **1,10,000**Long puts **79,000**Professionals dropped roughly **5,72,044**Net long **25,000**Long and added almost Pro desks move first, and here is Monday's quiet tell: they cut their net long puts from about 1,10,000 contracts to 31,878. The professionals dropped roughly 79,000 contracts of downside protection the night before expiry. That is quietly the most bullish Read the chapter The map: 24,000 anchor, twin put walls at 24,300 and 24,400 **4.26**Monday added **2.83**Crore fresh puts against **1.62**Stays the anchor **1.38**Now holds Monday added 4.26 crore fresh puts against 2.83 crore calls unwound. Strike by strike: 24,000 stays the anchor with 1.62 crore puts, the deepest pile on the board. 24,300 now holds 1.38 crore puts after 76 lakh came in fresh, and the calls that sat there Read the chapter The switch: 24,400 to 24,450 is the gear change **24,400**Gear change sits **24,450**Change sits **24,300**Amplify toward **120 points**Straddle closed The gear change sits at 24,400 to 24,450. Above it, moves get dampened into the close. Below it, they amplify toward 24,300. We closed at 24,430, right on top of the switch, and GIFT says we open above it. The 24,450 straddle closed near 120 points, the market Read the chapter The rotation and the world: autos and pharma in, IT still out **1.12 percent**Green again, Nasdaq **24,552**Hard, but GIFT Sector data at Monday's close: money moved into autos, pharma, Reliance, chemicals and the broad smallcap basket. Media, energy and IPO names sit on the sell side, IT is still fading, and note this, the finance signal just cooled, so do not over extrapolate Read the chapter POV and plan: respect the pin, buy the dips **24,300**Buy dips **24,400**Buy dips **24,500**Do not chase **5 lakh**Anchor, and the crowd's The plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 24,300 to 24,400, where the fresh twin put walls sit and where sellers are paid to defend. Do not chase into 24,500 on the settle, that is the ceiling Read the chapter 03The notes ## Chapter by chapter. ### *01*Cold open: the floor physically moved up, and today we settle Four green days, and on Monday the options board did something you should not skip past. The floor under this market physically moved up. Traders piled 1.21 crore fresh puts onto 24,400 and 76 lakh onto 24,300, the two biggest builds anywhere on the chain, while the foreign desk bought a second straight day, bigger than the first. GIFT Nifty is at 24,552 this morning, pointing to a firm open. And today we settle, it is Nifty weekly expiry. This is The Tanmay Edge. Good morning, it is Tuesday, 7 July. One map, every desk on it. ### *02*The tape: a four day green run on a short engine list The official NSE close: Nifty 24,430.35, up 159.50 points, 0.66 percent, a fourth straight green day. The high was 24,458.65, so we never touched 24,500. Sensex 78,285.07, up 521. Bank Nifty 58,291.50, up 0.61 percent. India VIX 11.82, still asleep. Now the part the headline hides. Only 24 of the 50 Nifty stocks advanced, 26 fell, on a plus 0.66 percent day. This was a heavyweight move, and really one heavyweight. HDFC Bank, up 3.59 percent on its business update, did the lifting almost alone. Kotak fell 3.89 percent on its own update and Axis closed flat, so the bank index netted just 0.61 percent. IT faded a third straight day, down 0.59 percent, with TCS down 1.68 percent walking into its own results on Thursday. The index rose a fourth day without IT. Autos up 1.36 percent, Realty up 1.81 percent, and smallcaps up 1.14 percent carried the broadening underneath. ### *03*The flow: the foreign bid got louder The foreign desk did not just stay a buyer, it got louder. Monday's official NSDL print: net plus 2,182 crore of equities bought on the exchange. That is the second straight buying day, and it is bigger than Friday's plus 1,355 crore. The buying accelerated into strength. In index futures they were net buyers too, about 925 crore of fresh buying on the day. The one print still to land this morning is the domestic institutions' Monday number: did they sell into strength a second day while the foreigner bought? ### *04*The positioning: the pros dropped their protection Pro desks move first, and here is Monday's quiet tell: they cut their net long puts from about 1,10,000 contracts to 31,878. The professionals dropped roughly 79,000 contracts of downside protection the night before expiry. That is quietly the most bullish shift on the board. The FII index short is down to 2,41,279, a third straight session of covering, while in single stock futures they are net long 5,72,044 and added almost 25,000 on Monday. Long the shares, short the index against them, a hedged long book, not a bearish bet. In options they hold net short 1,88,653 calls and net long 4,57,027 puts, the seatbelt still bolted on, loosened one notch. The crowd is net long 1,64,632 index futures and still short 5,13,142 puts even after covering about 1,00,000. Everyone leaning the same way. Nobody is positioned for a break of 24,300, which is exactly why that line matters. ### *05*The map: 24,000 anchor, twin put walls at 24,300 and 24,400 Monday added 4.26 crore fresh puts against 2.83 crore calls unwound. Strike by strike: 24,000 stays the anchor with 1.62 crore puts, the deepest pile on the board. 24,300 now holds 1.38 crore puts after 76 lakh came in fresh, and the calls that sat there bailed, 79 lakh gone. 24,400 also holds 1.38 crore puts after the day's single biggest build, 1.21 crore in one session. Sellers of those puts get paid to defend them. That is the floor, and it moved up. Overhead, 24,500 is the ceiling: 1.33 crore calls and the strongest pinning force on the board, the level the settle gets pulled toward if we trade near it. ### *06*The switch: 24,400 to 24,450 is the gear change The gear change sits at 24,400 to 24,450. Above it, moves get dampened into the close. Below it, they amplify toward 24,300. We closed at 24,430, right on top of the switch, and GIFT says we open above it. The 24,450 straddle closed near 120 points, the market paying for only about a half percent swing for the entire settle. The weekly is pricing about 9.6 percent annualised, already below the next two weeks at 10.1 and 10.6. Our volatility read closed 10.61, VIX 11.82. Front below the curve on expiry day means one thing: option value melts fast. Today you get paid for insurance, you do not buy it. Only a shock changes that. ### *07*The rotation and the world: autos and pharma in, IT still out Sector data at Monday's close: money moved into autos, pharma, Reliance, chemicals and the broad smallcap basket. Media, energy and IPO names sit on the sell side, IT is still fading, and note this, the finance signal just cooled, so do not over extrapolate Monday's bank engine either. Overnight, New York closed green again, Nasdaq up 1.12 percent, S&P up 0.72 percent. Asia is mixed with Korea down hard, but GIFT at 24,552 says India is shrugging it off, helped by a strong monsoon week. Brent 72.7 stays friendly. The rupee is the watch: 95.39 close, 95.49 high, pressing the record low zone. ### *08*POV and plan: respect the pin, buy the dips The plan for expiry is simple: the close is what counts today, the intraday whips are noise. Buy dips into 24,300 to 24,400, where the fresh twin put walls sit and where sellers are paid to defend. Do not chase into 24,500 on the settle, that is the ceiling and the strongest magnet on the board. Base case is a quiet, pinned settle between 24,400 and 24,500. A clean close below 24,300 changes the character of this market: 24,200 opens, then the 24,000 anchor, and the crowd's 5 lakh short puts become the fuel. Keep one eye on the rupee: back under 95.2 fuels this tape, above 95.5 caps it. We rebalanced the RupeeCase equal weight book on Monday, same discipline, no chasing, and you can track it live on rupeecase.com. 04Key takeaways ## 20 things to carry into the session. * *01*Nifty 24,430.35 plus 159.50 plus 0.66 percent fourth straight green day * *02*Sensex 78,285.07 plus 521 Bank Nifty 58,291.50 plus 0.61 percent * *03*High 24,458.65 never touched 24,500 * *04*India VIX 11.82 still in the multi month low zone * *05*Breadth narrow only 24 of 50 Nifty stocks advanced 26 fell * *06*HDFC Bank plus 3.59 percent the single engine Kotak minus 3.89 percent Axis flat * *07*IT faded a third day minus 0.59 percent TCS minus 1.68 percent into Thursday results * *08*Autos plus 1.36 percent Realty plus 1.81 percent smallcaps plus 1.14 percent broadening * *09*FPI cash net buyers plus 2,182 crore second straight day bigger than Friday * *10*FPI index futures buying about 925 crore on the day * *11*Pro cut net long puts from 1,10,000 to 31,878 dropped protection into expiry * *12*FII index futures short 2,41,279 a third session of covering * *13*FII net long 5,72,044 stock futures long shares short index a hedge * *14*FII index options net short 1,88,653 calls net long 4,57,027 puts * *15*Crowd net long 1,64,632 index futures still short 5,13,142 puts * *16*24,000 anchor 1.62 crore puts the deepest pile on the board * *17*Twin put walls 24,300 and 24,400 about 1.38 crore each floor moved up * *18*24,400 the day's biggest build 1.21 crore puts in one session * *19*24,500 ceiling 1.33 crore calls the strongest pinning force straddle near 120 points * *20*GIFT Nifty 24,552 firm open rupee 95.39 pressing the record low weekly IV about 9.6 percent Show all 20 05In his words The floor under this market physically moved up. The professionals dropped roughly 79,000 contracts of downside protection the night before expiry. Long the shares, short the index against them. That is a hedged long book, not a bearish bet. 06Transcript ## The full episode, in text. Read the transcript Reading mode Copy link 1,024 words, about 5 min to read A very good morning guys. Four green days, and on Monday the options board did something you should not skip past. The floor under this market physically moved up. 21 crore fresh puts on 24,400 and 76 lakh on 24,300, the two biggest builds anywhere on the chain, while the foreign desk bought a second straight day, bigger than the first. GIFT Nifty is indicating an open of 24,552 this morning, pointing to a firm open. And today is the expiry, it is Nifty's weekly expiry. This is Tanmay here. Good morning. It is Tuesday, 7th July, expiry day. One map, every desk on it. Let's go. 66 percent, a fourth straight green day. The high was 24,458, so we never touched 24,500. Sensex 78,285, up 521 points. 61 percent. 82, still asleep. Now the part the headline hides. 66 percent day. This was a heavyweight move, and really one heavyweight. 59 percent on its business update and did the lifting almost alone. 89 percent on its own update. 8 percent morning and closed flat. 61 percent while its biggest name HDFC Bank rose nicely. 68 percent walking straight into its own results on Thursday. The index rose on a fourth day without IT. 14 percent carried the broadening underneath. And the flows. The foreign desk did not just stay a buyer, it got louder. Monday's official NSDL print, net plus 2,182 crore of equities bought on the exchange. That is the second straight day of buying and it is bigger than Friday's plus 1,355 crore. The buying accelerated into the strength. In index futures they were net buyers too, about 925 crore of fresh buying on the day. The domestic institutions, Monday's number had not been published by recording. That is the first print to watch this morning. Did they sell into the strength a second day while the foreigners bought? So, the Pro desk first, because they move first. They have net long index futures, plus 10,551 going into today. But here is Monday's quiet tell. They cut their net long puts from about 1,10,000 contracts to 31,878 contracts. Read that again. The professionals dropped almost 79,000 contracts of downside protection the night before the expiry. That is quietly the most bullish shift on the board. The FII book, index futures net short 2,41,279, and the third straight session of covering, from 2,56,900 to 2,50,767 to now. In single stock futures they are net long 5,72,000 contracts and they added almost 25,000 on Monday. So now they are long the shares, short the index against them. That is a hedged long book, not a bearish bet. In index options, net short 1,88,653 calls, net long 4,57,027 puts, both a touch lighter than Friday. The seatbelt is still bolted on, loosened one notch. And the clients, the crowd, net long 1,64,632 index futures and still short 5,13,000 puts even after covering about 1,00,000 of them yesterday. Everyone leaning the same way. Nobody on this board is positioned for a break of 24,300, which is exactly why that line matters. Now the settlement and the map. 83 crore calls unwound. Strike by strike. 62 crore puts are present over there, the deepest pile on the board. 38 crore puts after 76 lakh came in fresh yesterday, and the calls that sat there bailed, 79 lakh gone. 21 crore in one session. Sellers of those puts get paid to defend those strikes. That is the support, and it has just moved up by 100 points. 33 crore calls and the strongest pinning force on the board sit, the level the settle gets pulled towards if we trade near it. The gear change sits at 24,400 to 24,450. Above it, moves get stamped into the close. Below it, they amplify towards 24,300. We closed at 24,430, right on top of that switch, and GIFT Nifty says we open above it. The 24,450 straddle closed nearly 120 points. The market is paying for only about a half a percent swing for the entire settlement. And the volatility. 6 on the next weeklies. 82. Expiry day with the front below the curve means one thing. Option value melts fast from here. Today you get paid for insurance, you do not buy it. Only a shock changes that. So where has the money rotated? Sector data at Monday's close. Money moved into autos, pharma, Reliance, chemicals and a broad smallcap basket. Media, energy and IPO names sit on the sell side, it is still fading. And note this, the finance signal just cooled, so do not over extrapolate Monday's bank engine either. 72 percent. Asia is mixed this morning with Korea down hard, near six percent. But GIFT Nifty is trading at 24,552, which says India is shrugging it off. And the main reason for it is the comeback of the monsoons. We have seen crazy monsoons over the last one week, and the whole of India is celebrating it. 7. 49 is the high, pressing the record low zone. Today's plan is simple guys. The close is what counts today. The intraday whips are just the noise. So buy the dips into 24,300 to 24,400. 24,320 to 24,390 is that level you buy on, that is where the fresh twin put walls sit and where sellers are paid to defend. Do not chase into 24,500, that is your resistance, that is the ceiling and the strongest magnet on the board. Base case is quiet, we settle between 24,400 and 24,500 at the end of the day. A clean close below 24,300 changes the whole character of this market, so keep a watch for that. Keep stop losses and insurances below 24,300 open as well. Then the crowd's 5 lakh short puts becomes the fuel. 50 and it caps it. com as well. So that is your edge for today guys. If this added value, share it with one trader friend who needs it right now. com. I am building RupeeCase, India's systematic investing terminal. Link is present in the show notes you just got earlier guys. Have a very happy expiry, and see you all once again tomorrow. Questions ## EP75, in plain words. What does EP75 of The Tanmay Edge cover?EP75, Tuesday 7 Jul 2026, 10:10, in 8 chapters: Cold open: the floor physically moved up, and today we settle; The tape: a four day green run on a short engine list; The flow: the foreign bid got louder; The positioning: the pros dropped their protection; The map: 24,000 anchor, twin put walls at 24,300 and 24,400; The switch: 24,400 to 24,450 is the gear change; The rotation and the world: autos and pharma in, IT still out; POV and plan: respect the pin, buy the dips. How did the calls in EP75 score?Grade 6/8 (75 percent): 5 hit, 2 partial, 0 mechanical, 1 miss. Graded the next trading day, 8 Jul 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) * [StrategySmallcap strategyNifty Smallcap 250, 50 stocks, every 2 weeks](/strategies/smallcap) * [StrategyHealthcare Basket strategyNifty MidSmall Healthcare, 10 stocks, every week](/strategies/healthcare-basket) * [Free module 1.3Indices & Benchmarks13 min read](/learn/path-1/module-1-3-indices-and-benchmarks) * [Free module 3.1The Momentum Factor11 min read](/learn/path-3/module-3-1-momentum-factor-deep-dive) Community ## Join my WhatsApp group. Scan the code, fillFill one short form, and join my WhatsApp group. 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