25 Nov 2024

MO Briefing

25 Nov 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 — 548 instruments

51%
32%
Long Buildup 279Short Buildup 54Long Unwind 27Short Cover 176Neutral 12

Structural lean: +0.682(455 expansionary, 81 contractionary)

Basis Stress

Flip stress

1.88x

elevated

Divergence

0.48x

below baseline

Basis flip stress elevated (1.88x baseline). Instrument divergence below baseline (0.48x)

Range Compression

Futures

0.88x

below baseline · 6 contracts

Equities

0.84x

below baseline · 1959 contracts

Compressed ranges (0.88x baseline)

Recent Path

Coordinated Contraction13
Fragmented Contraction14
Contraction Under Stress18
Expansion Under Stress19
Contraction Under Stress21
Expansion Under Stress22
Expansion Under Stress25

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.