24 Sep 2024

MO Briefing

24 Sep 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 — 553 instruments

31%
29%
16%
23%
Long Buildup 173Short Buildup 160Long Unwind 88Short Cover 125Neutral 7

Structural lean: +0.090(298 expansionary, 248 contractionary)

Basis Stress

Flip stress

1.86x

elevated

Divergence

0.97x

below baseline

Basis flip stress elevated (1.86x baseline). Instrument divergence below baseline (0.97x)

Range Compression

Futures

0.59x

below baseline · 2 contracts

Equities

0.82x

below baseline · 1842 contracts

Deeply compressed ranges (0.59x baseline)

Recent Path

Early Contraction16
Contraction Under Stress17
Contraction Under Stress18
Contraction Under Stress19
Expansion Under Stress20
Expansion Under Stress23
Expansion Under Stress24

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.