13 Mar 2025

MO Briefing

13 Mar 2025 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Contraction Under Stress

1 session

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 — 658 instruments

15%
56%
15%
Long Buildup 97Short Buildup 368Long Unwind 99Short Cover 47Neutral 47

Structural lean: -0.491(144 expansionary, 467 contractionary)

Basis Stress

Flip stress

1.16x

elevated

Divergence

1.30x

elevated

Basis flip stress elevated (1.16x baseline). Instrument divergence elevated (1.30x baseline)

Range Compression

Futures

0.92x

below baseline · 2 contracts

Equities

0.69x

below baseline · 2036 contracts

Compressed ranges (0.92x baseline)

Recent Path

Early Expansion05
Fragmented Expansion06
Fragmented Contraction07
Coordinated Contraction10
Expansion Under Stress11
Early Contraction12
Contraction Under Stress13

Structural Activity

Elevated
posture changed|flip stress elevated|divergence elevated

Transitioned from Early Contraction

Next MO Briefing: Monday 08:30 IST

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