MO Briefing
20 Jan 2026 · NSE Derivatives Structure
Posture
Contraction Under Stress
3 sessions
Contracting with internal strain. Basis structure under stress.
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 — 636 instruments
Structural lean: -0.929(16 expansionary, 607 contractionary)
Basis Stress
Flip stress
2.00x
elevated
Divergence
0.11x
below baseline
Basis flip stress elevated (2.00x baseline). Instrument divergence below baseline (0.11x)
Range Compression
Futures
1.48x
elevated · 213 contracts
Equities
1.32x
elevated · 2399 contracts
Expanded ranges (1.48x baseline)
Recent Path
Structural Activity
Next MO Briefing: Monday 08:30 IST