21 Aug 2024

MO Briefing

21 Aug 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Expansion Under Stress

2 sessions

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

43%
19%
26%
Long Buildup 241Short Buildup 106Long Unwind 44Short Cover 147Neutral 18

Structural lean: +0.428(388 expansionary, 150 contractionary)

Basis Stress

Flip stress

1.57x

elevated

Divergence

0.91x

below baseline

Basis flip stress elevated (1.57x baseline). Instrument divergence below baseline (0.91x)

Range Compression

Futures

0.81x

below baseline · 1 contracts

Equities

0.71x

below baseline · 1885 contracts

Compressed ranges (0.81x baseline)

Recent Path

Fragmented Contraction12
Coordinated Contraction13
Fragmented Contraction14
Expansion Under Stress16
Coordinated Expansion19
Expansion Under Stress20
Expansion Under Stress21

Structural Activity

Active
posture held|flip stress elevated|divergence normal

Next MO Briefing: Monday 08:30 IST

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