22 Aug 2024

MO Briefing

22 Aug 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Expansion Under Stress

3 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

39%
21%
12%
25%
Long Buildup 215Short Buildup 118Long Unwind 69Short Cover 140Neutral 14

Structural lean: +0.302(355 expansionary, 187 contractionary)

Basis Stress

Flip stress

1.99x

elevated

Divergence

1.11x

elevated

Basis flip stress elevated (1.99x baseline). Instrument divergence elevated (1.11x baseline)

Range Compression

Futures

1.63x

elevated · 1 contracts

Equities

0.75x

below baseline · 1877 contracts

Expanded ranges (1.63x baseline)

Recent Path

Coordinated Contraction13
Fragmented Contraction14
Expansion Under Stress16
Coordinated Expansion19
Expansion Under Stress20
Expansion Under Stress21
Expansion Under Stress22

Structural Activity

Active
posture held|flip stress elevated|divergence elevated

Next MO Briefing: Monday 08:30 IST

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