Articles
Notes from the research desk
Working notes on Indian market structure, options, and the methodology of testing strategies honestly.
How to read the Pre-Market Dashboard
A plain-English guide to every card on the daily pre-market read — what each number means, how to weigh it, and where each one will mislead you. No prior knowledge assumed.
Reading FII and DII flows without fooling yourself
Daily provisional flow numbers are the most over-interpreted data in the Indian market. Here is what they measure, what they leave out, and the handful of things they can honestly tell you.
What the Put-Call Ratio actually tells you (and what it doesn't)
PCR is treated as a sentiment gauge with a fixed rulebook. It is really a context-dependent reading that means different things at different strikes, at different points in the expiry cycle, and for different instruments.
Why most backtests lie — and what in-sample vs out-of-sample actually fixes
A strategy that looks brilliant on history has usually been fitted to it. The split between in-sample and out-of-sample data is the cheapest honesty test you can run — and it only catches some of the ways a backtest can flatter you.