Darshan

Tech / Finance / Stocks / Techno Funda / Valuation / FinTech / Science / Psychology / Fitness

[Sabeer Bhatia @sabeer]

India is building a dysfunctional society and Abhijeet Dipke is playing his part.

[Avipreet @avipreet]

OI and FII/DII data analysis as of 2nd July EoD. Data sourced from @BeSensibull @abidsensibull #nifty50

We are finally seeing our bullish thesis play out as Nifty crossed and closed above a long-standing resistance trendline which was previously acting as a resistance zone. This should now act as a support. Let's see how this reflects in the OI data snapshot as of EoD today.

FII - Change in OI is very bullish. FII bought close to ~24K calls and sold ~64K puts. Net outstanding OI remains bearish. FIIs bought ~470 cr in Futures and sold ~300 cr in cash.

Pro - Change in OI is very bullish. Pro bought ~51K calls and sold ~56k puts. Net outstanding OI has turned slightly bullish here.

Clients - Change in OI is bearish. Clients sold ~75K calls and bought 1.2 L puts. Net outstanding OI remains bullish here.

Overall Open Interest - Lot of put writing seen today as seen in the change of OI snapshot below. As per current OI, once Nifty starts closing above 24200, 24500 should open as the next positional target. 24000-24100 zone has lot of supportive put writing now. Bullish bias evident in OI now.

[Avipreet @avipreet]

OI and FII/DII data analysis as of 17th June EoD. Data sourced from @BeSensibull #NIFTY #nifty50

FII Data - Change in OI is bearish. FIIs sold lot more calls than puts. However, FIIs further reduced Future shorts and bought ~750cr in Futures. FIIs bought ~100 cr in cash.
Net outstanding OI for FIIs remains bearish.

Pro - Change in OI is bullish. Pro traders bought calls and sold put. Net outstanding OI for Pro traders is bullish

Client - Change in OI is bearish which can be construed as bullish for the markets. Client bought more puts.

Summary - Overall OI picture looks bullish. 24000 seems to be solid support now while some resistance can be seen at 24100. As per OI, the next major resistance after 24100 is round number resistance of 24500. Note that some put writing around 24500 was seen in the June end expiry today, but this can be treated as an observation for now.

[Mangalam Maloo @blitzkreigm]

Good one @DanishSait! Can totally relate with this.

[Imtiaz Mahmood @ImtiazMadmood]

Indian and Swiss snowboarders Urmila and Linda hitting the slopes of Gulmarg, India in traditional sarees.

[Darshan @DKRideas]

@Feluda71 @Maaachaaa69 Similar experience with @KotakCares Kotak Mahindra bank. Have been following up with them for 12 weeks and no resolution...their SM team is a bigger pain @KotakBankLtd

[Darshan @DKRideas]

@SahilKapoor @iramneek Thanks Sahil for sharing this. Insightful. Calculating the required future business performance to justify the CMP is essentially the 'reverse DCF' approach - McKinsey’s Valuation: Measuring and Managing the Value of Companies talks about it in detail, FYI if anyone interested

[Darshan @DKRideas]

@KotakCares Investigation taking 12 weeks to identify a small transaction is the biggest control risk for a bank. This proves @udaykotak hasn't done enough investment in process , tech and people. Why to give unnecessary gyan to others when his own bank has gone to dogs @RBI

[Avipreet @avipreet]

1st June 2026
#NIFTY broke through the crucial psychological level of 23500 today without any issue. Also broke a small trendline support shown below. However, it is close to a potential support level of 23250.

1. Any gap down may result in an immediate reversal given that we are oversold. Also 23500 should act like a magnet and attract straddle sellers for tomorrow's expiry

2. Also, a lot of call writing happened one day prior to 2nd June expiry which was very high as a percentage of total calls written for ATM and near ATM strikes.
For instance: Out of 50 L calls written at 23400, 48 L were written today, and 73 L out of 89 L at 23500. This gives an opportunity for short covering as calls written today would not have a premium cushion to sustain if there are bullish spikes.

Directional View - Look for bullish reversals in case of a gap down supported by reversal seen on smaller timeframes. Can play Nifty positionally long if 23800 is reclaimed.

For Flat opening, will look for a range to be formed and play breakout / breakdown of the range. Note that 23150-23260 is a gap fill zone where Nifty can potentially find support. Below this, 23000 and below will again open up

For Gap Up opening - Observe OI Buildup and price action #NIFTY #NSE

[Malay Krishna @Malay4Product]

This is an unbelievable piece of work by Sarthak and something that requires amplification.

Let me explain what he found, in simple terms.

Sarthak is a Class 12 student from the 2025-26 batch, one of the 17 lakh students whose answer sheets went through CBSE's new On-Screen Marking system.

He spent days reading through CBSE's evaluation tenders, scraped all 576 tenders CBSE has issued, and tracked how the rules changed across three versions of the same tender.

The core finding is that the company that won the contract to scan and grade 17 lakh students' answer sheets is Coempt Eduteck.

Coempt used to be called Globarena Technologies. Globarena was the company behind the 2019 Telangana intermediate exam disaster, where software failures led to 3.8 lakh students getting wrong or missing marks, and 23 students died by suicide.

A government committee found systemic failure and negligence. Six months later, Globarena rebranded to Coempt Eduteck.

So a company with that track record won a contract to handle 17 lakh CBSE students. Sarthak's investigation is about how the rules were rewritten to let that happen.

The tender was issued three times.

> First tender, February 2025. It existed, then disappeared from the public GeM portal. Sarthak scraped all 576 CBSE tenders and this one was missing from the archive entirely.

> Second tender, May 2025. Four companies applied including TCS and Coempt. All four failed the technical evaluation. Cancelled.

> Third tender, August 2025. Coempt won. Between the second and third tender, a series of rule changes happened, and every single one made it easier for Coempt to qualify.

Here is what changed, one by one.

01. The old rules disqualified any company with a history of abandoning work, failing to complete contracts, or financial weakness. The new rules deleted this clause entirely. Coempt's Telangana history stopped being a barrier.

02. The old rules disqualified any company that was "blacklisted earlier." The new rules changed this to "currently blacklisted." Because Globarena rebranded after Telangana, removing the word "earlier" effectively erased their past.

03. The rules required Rs 50 crore average turnover over three years. Coempt's exact average came to Rs 50.86 crore. They cleared the bar by less than 1%. Earlier, a smaller company had asked CBSE to lower the bar to Rs 30 crore for fairer competition. CBSE refused. So the bar was kept high enough to block small players, but sat exactly low enough for Coempt to scrape through.

04. Software maturity is measured on the CMMI scale, 1 to 5. The old rules required Level 5. The new rules dropped it to Level 3. Coempt is a Level 3 company.

05. The cooling-off period for engaging retired CBSE officials was cut from two years to one. This makes it easier to use recently retired insiders to influence the process.

06. The old rules required experience with large projects of at least 5 lakh students each. The new rules removed the student count and counted cumulative answer-book volume across small projects instead. Coempt has many small fragmented university contracts. This helped Coempt and hurt TCS.

07. The old rules required bidders to own their own data centre and disaster recovery centre on Indian soil. The new rules allowed third-party MeitY-empanelled cloud hosting. Coempt runs on AWS and Azure. This helped Coempt and hurt TCS, which owns its own data centres. It also means student data is no longer on sovereign, Indian infrastructure.

08. The old rules required the bidder to own or control the complete source code of its software. The new rules deleted this. Coempt's platform runs on Microsoft's proprietary IIS, which they don't own.

09. A last-minute corrigendum, issued right before bid submission, removed CBSE's own power to blacklist the firm if its software failed catastrophically. So even a Telangana-scale failure couldn't get Coempt banned from future government tenders.

10. The penalty structure shifted from punishing mistakes to punishing delays. The old rules fined the vendor for wrong scanning, merged pages, and unscanned books. The new rules dropped those and instead levied Rs 50,000 per day for delays. This incentivises rushed scanning over accurate scanning.

11. The old rules had a hard accuracy threshold, error rate not to exceed 0.5%. The new rules removed this number entirely.

12. The old rules specified proper book and robotics scanners. The new rules just say "sufficient scanners." The definition was vague enough that, as Sarthak notes, the scanning could be done with a phone on a stand.

13. On the security side, the contract required a VAPT (vulnerability and penetration test) certified by CERT-In before go-live, and a restricted beta phase before launch. The system clearly wasn't restricted, because the other researcher, Nisarga, was able to access it and find vulnerabilities four days before go-live. So the mandatory security audit appears to have been bypassed.

These are more than a dozen rule changes, all between the failed tender and the winning tender, all pushing in the same direction, all benefiting the one company with the worst track record in the field.

The security holes Nisarga found last week now have an explanation. The system was built by a vendor that was specifically allowed to skip the security certification, the source code ownership, the data sovereignty, and the quality thresholds the original rules demanded.

Following things need to happen immediately;

1. An immediate CAG audit of the tender process.
2. A parliamentary debate on the topic.
3. An independent investigation into
> Why the first tender vanished?
> Why the disqualification clauses were deleted?
> Why the turnover bar was held exactly where it was?
> Why the security level was dropped?
> Why the blacklisting power was removed at the last moment?

Sarthak, this is genuinely exceptional investigative work. Far better than most journalists with full resources ever manage. Take a bow. :)

[Darshan @DKRideas]

@KotakCares Nodal team has been working on it for last 9 weeks. Could you let me know why is it taking too long. Any ETA. This is super critical from the customer pov as the CIBIl record will be impacted due to system glitch. @jay_kotakone @udaykotak @RBIsays @consumerforum_

[Darshan @DKRideas]

@jay_kotakone @KotakBankLtd @KotakmahindraC pathetic service continues from Kotak bank. 21 years of banking with them however they always surprise with worst level of service.
41088257 complaint no has not been resolved in 6 weeks in spite of highlighting to the highest level

[Darshan @DKRideas]

@KotakCares @jay_kotakone pathetic state of affairs at Kotak Mahindra Bank. A normal complaint with Nodal office has not been resolved after 9 weeks. @RBIsays @RBI should take a not @udaykotak should take back the charge #shutdownkotak bank. I will be forced to raise this to RBI.

[Darshan @DKRideas]

@KotakCares It has been more than 6 weeks, does a normal complaint of missing the direct debit of CC payment going haywire take 6 weeks to investigate? If yes, @KotakBankLtd bank should cease to exist. @RBIsays @RBI @jay_kotakone. I am an ex-employee btw.

[Darshan @DKRideas]

@KotakCares No one has reached out to me yet, I don't know what is going on with the Kotak Mahindra bank

[Gems @gemsofbabus_]

🚨 Meet IAS D. Krishna Bhaskar, the officer who raised groundwater levels by 6 metres in just 3 years in Telangana’s Rajanna-Sircilla district.

A model now added to official training books.

IAS Bhaskar focused on what most systems ignore — Execution on Ground!

By effectively using MGNREGA and strengthening water infrastructure (desiltation, tank revival, reservoirs), he delivered measurable impact.

Result? Groundwater levels rose by 6 metres, agriculture increased by 150% and water security improved across the district.

Proof that governance isn’t about launching new schemes, it’s about making existing ones actually work. 🙏

[Priyanshu Ratnakar @0xratnakar]

the impact ai summit in delhi was a perfect demonstration of why india keeps losing in tech

and i’m tired of pretending it wasn’t a disaster.

let me paint the actual picture:

> cash-only payments at a “digital india” upi ??
> pm visit → main hall cleared for hours, everyone else just stood around doing nothing
> exhibitors locked out of their own stalls
> 3-hour queue just to enter
> a founder’s product got stolen during the summit
> no wifi at an ai event.
> can’t take your keys if you came via car/bike
> no laptop/camera at tech event
> people were asked to sit on the ground
> speaker lineup with consultants/bureaucrats who’ve never shipped a real product
> the registration system crashed multiple times. people who registered weeks in advance couldn’t get in.

vips walked past massive queues while founders and builders stood outside in the heat. 🤡

and 27 countries witnessed all of this live

networking areas? no space to stand.

many demos didn’t work because there was no stable internet. 5g??

this is what happens when optics matter more than execution.
when innovation becomes photo-op

the sad part is india has insane talent.

founders building world class products.
engineers and researchers doing real work.

leave India for a sec, im at network school and the youngest crowd is all Indians.

but we keep shooting ourselves in the foot with performative nonsense.

the west isn’t winning because they’re smarter.
they’re winning because they care about details.

because they respect builders.
because their tech summits actually work.

same story when @sama came to india last time.
boomer uncles asked the dumbest questions.
and when he said it’s hard for india to build foundational models, we took it on our ego.

rn, every founder who attended left embarrassed.

imagine international delegate left with stories about our “infrastructure.”

many friends and young builder lost a little more faith.

this wasn’t just bad planning.
it was a signal of what we value.
and clearly, it’s security theater and photo-ops over builders.

we can do better.
we have the talent.
we have the market.
we have the potential.

what we don’t have is execution and respect for the people building the future.

maybe one day we will do better. till then if you’re a founder, ignore the noise. keep building.

[Ritesh Jain @riteshmjn]

My view on US if President Trump wins the elections.

A trump win will be America first policy which will accelerate deglobalisation. It will push more countries to take care of their own security as US military umbrella will not be freely available. A trump presidency will be a transactional relationship. A trump presidency will undermine institutions especially Fed independence. Trump will want lower dollar lower rates and will erect massive trade and tariff barrier to protect American industry.

Historically it is the responsibility of reserve currency to share its GDP and police world shipping lines but America under President a trump will be more inward looking and that will lead to acceleration of multi currency trading system.

[Joker @BachelorJoker]

One day, you'll realize you've already lived through some of the best days of your life, and you didn't even know it at the time.
You were too busy chasing what's next, busy worrying about what's missing, thinking happiness was something you'd arrive at one day, once everything finally made sense.
But while you were waiting, you were laughing with people who won't always be around. You were making memories in places you'll one day drive past and feel something you can't explain.
You were standing in moments that didn't feel like the good old days till they were gone. That's the thing no one tells you. You rarely recognize happiness when you're standing in it. It feels too ordinary, too small to matter, till it becomes a memory you'd give anything to experience again.
But right now, you're still in it. You still have the people, the moments, the chances, the ordinary days you'll one day call some of your favorite. So stop waiting for life to start. You're already living it.