22 Oct 2024

MO Briefing

22 Oct 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Contraction Under Stress

2 sessions

Contracting 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 — 550 instruments

56%
36%
Long Buildup 15Short Buildup 306Long Unwind 196Short Cover 5Neutral 28

Structural lean: -0.876(20 expansionary, 502 contractionary)

Basis Stress

Flip stress

1.78x

elevated

Divergence

0.44x

below baseline

Basis flip stress elevated (1.78x baseline). Instrument divergence below baseline (0.44x)

Range Compression

Futures

2.34x

elevated · 1 contracts

Equities

1.33x

elevated · 1916 contracts

Expanded ranges (2.34x baseline)

Recent Path

Fragmented Expansion14
Fragmented Expansion15
Fragmented Contraction16
Coordinated Contraction17
Fragmented Expansion18
Contraction Under Stress21
Contraction Under Stress22

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.