MO Briefing
12 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: -0.243(228 expansionary, 382 contractionary)
Basis Stress
Flip stress
0.68x
below baseline
Divergence
1.27x
elevated
Basis flip stress below baseline (0.68x). Instrument divergence elevated (1.27x baseline)
Range Compression
Futures
0.79x
below baseline · 422 contracts
Equities
0.78x
below baseline · 2411 contracts
Compressed ranges (0.79x baseline)
Recent Path
Structural Activity
Transitioned from Fragmented Expansion
Next MO Briefing: Monday 08:30 IST