20 Aug 2024

MO Briefing

20 Aug 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Expansion Under Stress

1 session

Expanding with internal strain. Basis structure under stress.

How to read this

The compass maps the structural posture of the derivatives market. The horizontal axis shows expansion vs contraction. The vertical axis shows coherence vs stress.

The dot marks today's position. The trail shows the past 7 sessions. The posture label describes what the structure is — not where it's going.

Depth panels below show the underlying measurements: positioning breadth, basis stress, range compression, and structural activity.

Depth

Positioning — 556 instruments

41%
17%
29%
Long Buildup 230Short Buildup 97Long Unwind 40Short Cover 161Neutral 28

Structural lean: +0.457(391 expansionary, 137 contractionary)

Basis Stress

Flip stress

1.29x

elevated

Divergence

0.55x

below baseline

Basis flip stress elevated (1.29x baseline). Instrument divergence below baseline (0.55x)

Range Compression

Futures

1.56x

elevated · 1 contracts

Equities

0.73x

below baseline · 1888 contracts

Expanded ranges (1.56x baseline)

Recent Path

Fragmented Expansion09
Fragmented Contraction12
Coordinated Contraction13
Fragmented Contraction14
Expansion Under Stress16
Coordinated Expansion19
Expansion Under Stress20

Structural Activity

Elevated
posture changed|flip stress elevated|divergence normal

Transitioned from Coordinated Expansion

Next MO Briefing: Monday 08:30 IST

MarketObservatory describes the structural condition of the market. It does not predict price direction.