BBhawna Sharma

Experienced Algorithmic Trader | Equity research Analyst | Please Note: All the tweets on this handle are meant for education purpose only.

[ASAN @Asan_research]

Really government is doing injustice with retail Traders by putting so many taxes

#fno

[Margin of Safety🇮🇳 @InvestorOfJAMMU]

Remove STT, all Retail Traders will become Profitable✅

STT, Brokerage, Exchange fees, GST, STCG, Stamp duty etc.

This is the list of draconian taxes that is taking traders to losses.

[Market Edge @Market_Edge_007]

A simple question... 🤔

If Reliance is trading at ₹1,310 on NSE and ₹1,313 on BSE...

Why can't I just buy 1,000 shares on NSE and immediately sell 1,000 shares on BSE to make a ₹3,000 profit?

What's stopping a retail investor from doing this?

[Sarang Sood @SarangSood]

Regulators can probably ignore traders for a while.

Ignoring prime time television is where things usually get difficult.

[CNBC-AWAAZ @CNBC_Awaaz]

What happened on expiry day in Sensex options

78,000 call went from 2 to 80
78,000 put went from 166 to 0

Sensex indicative equilibrium price was 77,860 till 3.28 and it closed at 79,080 making a mockery of system

@_anujsinghal #CAS #options #sensex #trading #anujsinghal

[BBhawna Sharma @TIPLBHAWNA]

@vbomkara No discount for even earlier subscribers sir?

[Tanmay Kurtkoti | Quant Trading @TanmayKurtkoti]

India’s Biggest Casino

For the last five days, 3:15 PM has become the most interesting 15 minutes of the Indian market for me.

Not because I am expecting a big candle.

Not because some Fed announcement is coming.

Not because there is election data or a war headline.

Simply because the cash market stops trading normally and the new Closing Auction Session begins.

I actually started this week liking the idea of CAS.

I still do.

Closing auctions are used globally. They make sense for institutions, ETFs, index funds and anyone who needs to execute at an official closing price.

But after watching the first week closely, I think we need to talk about something deeper.

Because what looks like a simple change in how stocks close has created a completely new market structure between 3:15 and 3:30.

And I am starting to wonder whether that structure naturally favours one side.

Let me start with what caught my attention

On Monday, the first day of CAS, Nifty suddenly closed almost 200 points away from where it was trading before the auction.

Everyone called it first-day chaos.

Fair enough.

New mechanism. New systems. New behaviour.

Then Tuesday came.

Nifty weekly expiry.

At 3:15 PM, Nifty was around 24,463.

The ATM straddle was still close to ₹100.

Then CAS started.

The indicative closing value started moving.

24,500.

24,520.

24,550.

Derivatives started following it.

The final Nifty settlement came around 24,615.

A roughly 150-point move during a period in which the underlying cash basket was no longer trading continuously.

That is when I stopped looking at CAS as just a closing-price mechanism.

This was now directly affecting derivatives settlement.

Then Thursday came.

First Sensex weekly expiry under CAS.

Again, the closing auction moved the index materially from its 3:15 level.

By now the option market had learned something from Tuesday and volatility was priced much better.

But the cash auction still mattered enormously.

And there is one pattern I have been watching.

During the first four completed sessions, the Nifty CAS adjustment was positive every single day.

Monday positive.

Tuesday positive.

Wednesday positive.

Thursday positive.

The size kept reducing, which is encouraging.

But the direction remained the same.

Four days is absolutely not enough to prove anything.

It could easily be coincidence.

But when you see the same direction four days in a row in a brand-new market mechanism, you at least ask the question.

Why?

This is where SLBM becomes very important

Imagine one stock is trading too cheap in the closing auction compared with its futures price.

The arbitrage is simple.

Buy the stock.

Sell the future.

Anyone with capital can potentially do this.

Now reverse the trade.

Suppose the stock becomes expensive in CAS compared with futures.

The arbitrage is:

Sell the stock.

Buy the future.

Sounds equally simple.

But it isn’t.

If I don’t already own that stock, I need to borrow it.

And this is where Indian market structure becomes interesting.

Our derivatives market is incredibly deep.

You can buy or sell index futures almost instantly.

You can change a large derivatives exposure with one click.

But borrowing physical stock is nowhere near as frictionless.

India has SLBM, but anyone who has actually looked at that market knows the difference between “a stock can technically be borrowed” and “I can access meaningful inventory at the exact moment I need it, at a sensible cost, with efficient collateral.”

These are completely different things.

So think about CAS from an arbitrageur’s perspective.

If the auction becomes too cheap, correcting it requires money.

Buy cash.

Sell futures.

If the auction becomes too expensive, correcting it may require inventory.

Sell cash.

Buy futures.

One side requires capital.

The other may require capital plus stock borrow plus inventory availability plus collateral.

That means the two trades are not perfectly symmetrical.

[Piyush Chaudhry @piyushchaudhry]

No Trade Day on 12th August:
Against STT
Against CAS

Against irrationally high Taxes imposed to squeeze the Traders, an increasingly hostile regulatory environment and further Trading rules that reflect sheer incompetence and hate in policy making.

[⭐JC 🏹 @niftywizard]

Kindly take it serious. One day of inactivity in markets can make the govt hear us. With unity we should show the power of retails.

[A Digital Blogger @adigitalblogger]

Serious Trading folks - Time to Stand for a cause that matters to You.

You need to be heard.

This 12th August 2026 - do not place even a single trade.

Market Participants who stay mum and feel this moment will die eventually, need to know this is just a start.

[Niraj Munot @niraj_munot]

Finally! Current govt doesnt listen to voices, they listen to actions and protests! This is the only way to make our voices heard. There has been a structural change every 2 months done by our regulators and govt, it's about time we take some steps againsts this.

[Trade Scale @ProfitsRoute]

#NotradingonAug12th

Don't Trade on 12th August Everyone.

#RollbackCAS

[Trade Wizard @SumanMund6]

Lets do it 🚫

#rollbackCAS

[Sakthidoss @Sakthidoss7]

CAS Uncertainty.. Crypto Exchanges are enjoying!!

[Keerthan B S @keerthanbs]

I'm praying that sensex close causes mayhem. Sadly, for continued manipulation the beneficiaries will pin it today. Sebi will be idiots & say the teething problem is now solved.
#RollbackCAS

[Krishna Thakur @KrishAlpha7]

320 premium goes to zero without any market movement 😅🤣

Joke for traders

[Keshav Arora @CommerceGuruu]

Day 1 of not trading

#rollbackCAS

[Vipul Kankaria @cobbervipul]

A derivative in the stock market is a financial contract between two or more parties.

Its value comes from an underlying asset, like a stock, bond, or market index.

Spot : Parent
Derivative : Child

Sebi says we will stop parents at 3:15 and let the kids play till 3:40 to derive their actual closing value

With this the logic of derivative itself is meaningless

[Sid D Harth | Macro Trader @T_Harth]

"World markets follow closing auctions, so we must too!”

World markets have Zero STT on Derivatives, why are we not following that ?

[Aditya Kini @kini_aditya]

First expiry in ~5-6 years I didn't trade. Wasn't a choice I wanted to make. #rollbackCAS
@SEBI_India @NSEIndia @BSEIndia