--- title: "24,000 Held To The Tick And IT Bought The | The Tanmay Edge" description: "Yesterday Korea had a Black Monday and Indian IT walked in and bought the dip. Overnight that same chip selling crossed into America and crude broke 80. So we" source_url: "https://www.rupeecase.com/podcast/episodes/2026-07-14" --- The Tanmay Edge, Season 2, EP80 # 24,000 held to the tick and IT bought the crash Now crude is over 80 into Nifty expiry, buy dips but keep the insurance Nifty closed 24,211 yesterday, dead on the 24,200 pin, low 24,000.20 held to the tick * **10:23**listen * **2.5/5**graded at settlement * **Tue 14 Jul 2026**aired, Season 2 Now playing 24,000 held to the tick and IT bought the crash EP80, 14 Jul, 10:23 1x 0:00Chapter marks are estimated from the notes10:23 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 ## 2.5/5 at settlement. **2.5/5**50% **The call.** Buy The 24,000 Dip With A Hedge Support 24,000 Max Pain 24,200 Reclaim 24,200 Then 24,300 Hard Cap 24,500 Out Below 24,000 On Volume To 23,900 Then 23,800 Crude Over 84 VIX 13.28 Rising Not A Dead Pin * **2**Hit * **1**Partial * **0**Mechanical * **2**Miss Graded the next trading day, 15 Jul 2026, against NSE settlement. 1. **Miss**the reclaim, price never took back 24,200. Two and a half out of five, direction right but the entry was too greedy, exactly as flagged on air. 2. **Miss**the reclaim, price never took back 24,200. Two and a half out of five, direction right but the entry was too greedy, exactly as flagged on air. 3. **Miss**the reclaim, price never took back 24,200. Two and a half out of five, direction right but the entry was too greedy, exactly as flagged on air. 4. **Miss**the reclaim, price never took back 24,200. Two and a half out of five, direction right but the entry was too greedy, exactly as flagged on air. 5. **Miss**the reclaim, price never took back 24,200. Two and a half out of five, direction right but the entry was too greedy, exactly as flagged on air. [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**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 2. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 3. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 4. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 5. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 6. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 7. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a 8. **08**The plan and the scorecard: buyer aboveThe plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a Cold open: buy the dip again, but this time with insurance **24,000**Gap down, back Yesterday Korea had a Black Monday and Indian IT walked in and bought the dip. Overnight that same chip selling crossed into America, the Nasdaq lost more than one and a half percent, and crude broke 80. So this morning we gap down, back onto 24,000, on Nifty Read the chapter Yesterday the tape: 24,000 held to the tick, IT bought it back **700 points**Gapped the Sensex **24,000.20**Made its low **24,211**Tick, and it closed **24,200**Closed dead The Hormuz news gapped the Sensex down 700 points at the bell and Indian IT bought the whole thing back. Nifty made its low at 24,000.20, the 24,000 line held to the tick, and it closed 24,211, dead on the 24,200 pin. IT led the board up 3.59 percent, TCS up Read the chapter Overnight: the chips crossed the ocean, crude broke the line **1.6 percent**Nasdaq fell **95.62**Rupee is soft **24,000**Right back Two things moved against us overnight. The chip selling that crashed Korea did not stop, it crossed the ocean. The Nasdaq fell about 1.6 percent, the S&P 0.8, memory and AI names led it lower for a second straight day. And crude kept climbing on the strait. Read the chapter The twist: the 14 July expiry chain **24,200**Max pain **1.9**Whole board, close **24,500**Hard wall **1.7**Hard wall Here is the twist, and it is in the options. Max pain is 24,200, exactly where we closed. Support is 24,000, and that is the single biggest line on the whole board, close to 1.9 crore puts, and it grew by 83 lakh contracts yesterday alone. Resistance is 24,300 Read the chapter The participants: pros long both wings, clients short the puts **1,52,000**Calls and the puts **1,19,000**Puts, long calls **2,55,000**Cautious side, short **6,06,000**Clients are sitting short Pros move first. They are long the futures and long both the calls and the puts, 1,52,000 long calls and 1,19,000 long puts at the same time, paying up for a move both ways into expiry. The foreign desks are the cautious side, short 2,55,000 index futures Read the chapter The tell: a rising fear gauge into expiry **8 percent**Expiry, up more **13.28**More than percent Here is the tell that ties it together. The fear gauge rose into expiry, up more than 8 percent to 13.28, and the pros are paying for options on top of that. On a normal expiry the fear gauge falls, the options bleed to zero, and price gets glued to max pain. Read the chapter Why caution today: crude crossed 80, gold still calm **4,009**Gold, flat Yesterday crude was under 80 and gold was falling, no fear, a clean dip you buy. Today crude is 84, over the line I gave you. That was the one thing that would change my mind, and it happened. It does not flip me bearish, but it means the downside is live now Read the chapter The plan and the scorecard: buyer above 24,000, out below on volume **24,200**Green, and we press **24,000**Clean break **6,06,000**Negative, the clients short **23,900**Move gets fast toward The plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a buyer with a hedge, looking for the reclaim of 24,100 and then the 24,200 pin. Get 24,200 back in the first hour with IT green, and we press 24,200 Read the chapter 03The notes ## Chapter by chapter. ### *01*Cold open: buy the dip again, but this time with insurance Yesterday Korea had a Black Monday and Indian IT walked in and bought the dip. Overnight that same chip selling crossed into America, the Nasdaq lost more than one and a half percent, and crude broke 80. So this morning we gap down, back onto 24,000, on Nifty weekly expiry. Yesterday the call was to buy the 24,000 dip and it paid. Today the read is the same with one change. Crude is now over the line, so today you buy with caution, and you never buy without insurance. This is The Tanmay Edge, episode 80. A news podcast with a twist, options first. ### *02*Yesterday the tape: 24,000 held to the tick, IT bought it back The Hormuz news gapped the Sensex down 700 points at the bell and Indian IT bought the whole thing back. Nifty made its low at 24,000.20, the 24,000 line held to the tick, and it closed 24,211, dead on the 24,200 pin. IT led the board up 3.59 percent, TCS up 5.43, HCLTech up 5.02 after a Q1 beat with profit 4,626 crore, up 20 percent on the year. But under that green screen the FIIs sold 3,062 crore of cash while the DIIs bought 2,172 crore to absorb it. The buyer was domestic money and IT, not the foreign desks. June inflation printed hot at 4.38 percent and pushed India VIX up 8 percent to 13.28. ### *03*Overnight: the chips crossed the ocean, crude broke the line Two things moved against us overnight. The chip selling that crashed Korea did not stop, it crossed the ocean. The Nasdaq fell about 1.6 percent, the S&P 0.8, memory and AI names led it lower for a second straight day. And crude kept climbing on the strait. Iran is calling Hormuz closed, Washington is talking blockade and a toll on every tanker, and about a fifth of the world's oil moves through that channel. Brent is now over 84 dollars, WTI near 79. The rupee is soft at 95.62. GIFT Nifty is down about 165 points, pointing to an open near 24,040, right back on the 24,000 wall. ### *04*The twist: the 14 July expiry chain Here is the twist, and it is in the options. Max pain is 24,200, exactly where we closed. Support is 24,000, and that is the single biggest line on the whole board, close to 1.9 crore puts, and it grew by 83 lakh contracts yesterday alone. Resistance is 24,300 at 93 lakh calls, then the hard wall, 24,500, at 1.7 crore calls, the heaviest strike on the board. Put to call ratio is 1.62, firmly on the put side, that is supportive. The straddle is around 200, so the market is pricing a move of roughly 24,010 to 24,410 into the close. ### *05*The participants: pros long both wings, clients short the puts Pros move first. They are long the futures and long both the calls and the puts, 1,52,000 long calls and 1,19,000 long puts at the same time, paying up for a move both ways into expiry. The foreign desks are the cautious side, short 2,55,000 index futures, writing the upside calls, buying the downside puts, and they sold the cash. The clients are sitting short 6,06,000 puts under the market, the put writers betting 24,000 holds. That is the fuel. If 24,000 cracks, those short puts have to run for cover, and that is what makes a move fast. ### *06*The tell: a rising fear gauge into expiry Here is the tell that ties it together. The fear gauge rose into expiry, up more than 8 percent to 13.28, and the pros are paying for options on top of that. On a normal expiry the fear gauge falls, the options bleed to zero, and price gets glued to max pain. When the fear gauge is rising into expiry and the smart desk is buying both wings, that glue is weak. The pin can break and price can trend. So do not blindly sell the straddle today just because it says expiry on the calendar. ### *07*Why caution today: crude crossed 80, gold still calm Yesterday crude was under 80 and gold was falling, no fear, a clean dip you buy. Today crude is 84, over the line I gave you. That was the one thing that would change my mind, and it happened. It does not flip me bearish, but it means the downside is live now, not theoretical. The one tell still on our side is gold, flat at 4,009 and still not spiking. Real fear runs into gold and it is not running yet. So the bulls keep the benefit of the doubt today, but only just. ### *08*The plan and the scorecard: buyer above 24,000, out below on volume The plan is about the edges, not the middle chop. We open near 24,040, into the wall. If 24,000 holds, I am a buyer with a hedge, looking for the reclaim of 24,100 and then the 24,200 pin. Get 24,200 back in the first hour with IT green, and we press 24,200 then 24,300, with 24,500 the magnet above that. The down case is a clean break of 24,000 on real volume, which only needs crude to keep running or one fresh strait headline. Gamma flips negative, the clients short 6,06,000 puts run for cover, and the move gets fast toward 23,900 then 23,800. Above 24,000 a buyer, below it on volume out, and keep the insurance on into expiry. Scorecard on episode 79. The call was to buy the 24,000 dip, the wall would hold, and IT would lead it back. The low was 24,000.20, it held to the tick, IT led up 3.59 percent, and we closed on the 24,200 pin. Four and a half out of five, only the 24,300 stretch went untagged. 04Key takeaways ## 20 things to carry into the session. * *01*Nifty closed 24,211 yesterday, dead on the 24,200 pin, low 24,000.20 held to the tick * *02*IT led up 3.59 percent, TCS up 5.43, HCLTech up 5.02 after a Q1 beat * *03*HCLTech Q1 profit 4,626 crore, up 20 percent on the year * *04*FIIs sold 3,062 crore cash, DIIs bought 2,172 crore to absorb it * *05*June CPI hot at 4.38 percent, above expectations, cooling rate cut hopes * *06*India VIX rose 8 percent to 13.28 into expiry * *07*Nasdaq down about 1.6 percent, S&P down 0.8, memory and AI led a second down day * *08*Brent over 84 dollars, WTI near 79, crude broke the 80 line on the Hormuz strait * *09*About a fifth of the world's oil moves through Hormuz, Iran calling it closed * *10*Rupee soft at 95.62, GIFT Nifty down about 165 pointing to an open near 24,040 * *11*Max pain 24,200, support 24,000 the biggest line at close to 1.9 crore puts * *12*The 24,000 strike added 83 lakh puts yesterday alone * *13*Resistance 24,300 at 93 lakh calls, hard cap 24,500 at 1.7 crore calls the heaviest strike * *14*Put to call ratio 1.62, straddle near 200, expected move 24,010 to 24,410 * *15*Pros long the futures and long both wings, 1,52,000 calls and 1,19,000 puts * *16*FIIs short 2,55,000 index futures, writing upside calls, buying downside puts * *17*Clients short 6,06,000 puts, the put writers betting 24,000 holds * *18*Gold flat at 4,009, not spiking, the one tell still on the bulls side * *19*Plan, above 24,000 buy the dip with a hedge, target 24,200 then 24,300 * *20*Below 24,000 on volume, gamma flips and it runs toward 23,900 then 23,800 Show all 20 05In his words Today I am still a buyer of dips. But with one change. Crude is now over my line, so today you buy with caution, and you never buy without insurance. Nifty made its low at 24,000.20, the 24,000 line held to the tick, and it closed 24,211, dead on the 24,200 pin. The buyer was domestic money and IT, not the foreign desks. 06Transcript ## The full episode, in text. Read the transcript Reading mode Copy link 1,296 words, about 6 min to read good morning guys yesterday korea had a black monday and indian it walked in and bought the dip nicely last night the same chip selling crossed into america the nasdaq lost more than one percent and crude broke 80 so this morning we are gapping down on gift nifty back on to 24,000 on expiry day. Now here is the thing guys. Yesterday I told you to buy that 24,000 dip and it paid off. Today, am I still a buyer? But with one change. Crude is now over my line. So today, you buy with caution and you never buy without an insurance. So this is the Tanmay Edge. You are listening to episode 80. I am Tanmay Kurtkoti. Let's go. So let me give you yesterday first, fast, because today is the second half of the same story. The Hormuz news gapped the Sensex down 700 points at the bell. And then Indian IT bought the whole thing back. 20. The 24,000 line held to the tick. And it closed 24,211. Dead on that 24,200 pin and the target. 59%. 43%. Sorry, HCL Tech was up by 5% and after its numbers. But look under that green screen. FIIs sold 3062 crore in cash and DIIs bought 2172 crore to absorb it. 28, that is where the VIX closed in. Now, overnight, two things moved against us. One, the chip selling that crashed Korea did not stop. 6%. 8%. Memory and AI names led it lower for a second straight day. Two, crude kept climbing on the strait. Iran is calling Hormuz closed, Washington is talking about a blockade and a toll on every tanker that passes through it, about a fifth of the world's oil moves through that channel. That is almost 20%. Brent is now over $84. WTI near $79. 50. And gift nifty is down about 165 points pointing to an open near 24,000 right back on that support of 24,000. So here is the twist guys and it is in options. The 14th July expiry chain is showing a max pain of 24,200 exactly where we closed. 9 crore puts are written over there and it grew by 83 lakh contracts yesterday alone. Resistance, first one is present at 24,300, 93 lakh calls. 7 crore calls now, the heaviest strike on the board. 62. That is supportive. The straddle is around 200. So the market is technically pricing a move of 23,970 on the bottom end to 24,380 on the upside. So now both participants, pros first because they move first. The pros are long the futures and they are long both, the calls and the puts, 1,52,000 long calls and 1,19,000 long puts at the same time, so they are paying for a move both ways into the expiry. So the foreign desks are the cautious side, short 2,55,000 index futures, writing the upside, buying the downside puts, and they sold the cash as well. And the crowd, the clients, they are sitting short 6,06,000 puts under the market, they are put writers betting 24,000 holds. That is the fuel guys, if 24,000 cracks those short puts have to run for the cover and that is exactly what makes a move fast. And here is the tell that ties it together. 28. And the pros are paying for options on top of that. On a normal expiry, the fear gauge would fall, the options would bleed to zero and the price gets glued to the max pain. When the fear gauge is rising into expiry and a smart desk is buying both wings, that glue is weak, the pin can break and that should happen today and the price can trend, also that will happen today, so do not sit there and blindly sell a straddle today just because it says expiry on the calendar. So why caution today when yesterday I told you just buy it. One number. Yesterday crude was under 80 dollars and gold was falling, so no fear, clean dip, you buy it. Today crude is at 84, over the line I gave you. That was the one thing that would change my mind and it happened. It does not flip me bearish but it means the downside is live now, not theoretical. The one tell still on our side is gold. Gold is trading still flat at $4,010. Still not spiking. Real fear runs into gold and it is not running yet. So the bulls keep the benefit of doubt today but only just. So here is the plan, what we are going to do. And today it is about the edges, not the middle chop. We open near 24,040 straight into the support. If 24,000 holds, which I think it should not hold and it should break, so we are looking at 23,950 to 23,970 as the buy zone. Then the target would be 24,100 to 24,200. That's the pin. If we rally above 24,200 today's expiry can be vicious and go about 24,300 as well, but personally I feel 24,100 to 24,200 is the expiry's best case, that is where the buildup has happened, but it is not going to come without a move. Now the down case, because a plan without an exit is just a hope. Clean break of 23,950 on real volume and that only needs crude to keep running or one fresh headline over the strait. If 23,950 goes gamma flips negative, the clients who sold those six lakh six thousand puts run for cover and the move gets fast. Next support 23,900, then 23,800 cannot be ruled out. I do not average into that, I stand aside and I wait for that 23,800 line. So the line is exact, above 24,000 I am a buyer of dips, below it on volume I am out and waiting for the markets to settle out. And whatever you do today keep the insurance on guys, it is expiry, the fear gauge is rising and there is a live crude event running over the Hormuz. That is the exact combination where you hold your hedge. Do not sell it for few rupees. The pros are the ones buying that protection right now. Do not be the one selling it to them cheap. So remember second half is not about selling, the first half yes, after the volatility selling can be done. Two things swing the day. Crude first, watch whether Brent holds up here or fades back under 80 because that is the whole risk in one number. And global chips, this is the second night of that selling, so watch it out, it decouples again like yesterday or finally cracks with the rest of the world, keep half an eye on korea as well and the rest of asia for the follow through. Quick scorecard guys on yesterday's episode 79. I told you to buy the dip, the support would hold and it would lead it back. 59 and we close right on 24,200 pin. 5 out of 5, only 24,300 the touch point that I expected didn't hit. com. Have a great tuesday expiry guys. One wall that held to the tick, one crude spike over the line, and one expiry that is not a dead pin. Buy the 24,000 dip with a hedge, target 24,200 then 24,300 for the expiry to come back again to 24,100 to 24,200, and step aside after 23,950 breaks. This was the Tanmay Edge. If you found value in this guys 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 if you want to add something to the podcast. Thank you, see you all once again tomorrow. Questions ## EP80, in plain words. What does EP80 of The Tanmay Edge cover?EP80, Tuesday 14 Jul 2026, 10:23, in 8 chapters: Cold open: buy the dip again, but this time with insurance; Yesterday the tape: 24,000 held to the tick, IT bought it back; Overnight: the chips crossed the ocean, crude broke the line; The twist: the 14 July expiry chain; The participants: pros long both wings, clients short the puts; The tell: a rising fear gauge into expiry; Why caution today: crude crossed 80, gold still calm; The plan and the scorecard: buyer above 24,000, out below on volume. How did the calls in EP80 score?Grade 2.5/5 (50 percent): 2 hit, 1 partial, 0 mechanical, 2 miss. Graded the next trading day, 15 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. 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