28 Oct 2024

MO Briefing

28 Oct 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 — 549 instruments

38%
19%
11%
29%
Long Buildup 210Short Buildup 107Long Unwind 61Short Cover 159Neutral 12

Structural lean: +0.366(369 expansionary, 168 contractionary)

Basis Stress

Flip stress

2.43x

elevated

Divergence

0.58x

below baseline

Basis flip stress elevated (2.43x baseline). Instrument divergence below baseline (0.58x)

Range Compression

Futures

0.53x

below baseline · 2 contracts

Equities

0.99x

below baseline · 1912 contracts

Slightly expanded ranges (1.05x baseline)

Recent Path

Fragmented Expansion18
Contraction Under Stress21
Contraction Under Stress22
Contraction Under Stress23
Contraction Under Stress24
Contraction Under Stress25
Expansion Under Stress28

Structural Activity

Elevated
posture changed|flip stress elevated|divergence normal

Transitioned from Contraction Under Stress

Next MO Briefing: Monday 08:30 IST

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