MO Briefing
05 Feb 2026 · NSE Derivatives Structure
Posture
Fragmented Contraction
1 session
Contractionary lean but instruments disagreeing. Surface alignment masks internal divergence.
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 — 633 instruments
Structural lean: -0.276(215 expansionary, 390 contractionary)
Basis Stress
Flip stress
0.74x
below baseline
Divergence
1.77x
elevated
Basis flip stress below baseline (0.74x). Instrument divergence elevated (1.77x baseline)
Range Compression
Futures
0.75x
below baseline · 422 contracts
Equities
0.83x
below baseline · 2409 contracts
Compressed ranges (0.75x baseline)
Recent Path
Structural Activity
Transitioned from Fragmented Expansion
Next MO Briefing: Monday 08:30 IST