MO Briefing
20 Feb 2026 · NSE Derivatives Structure
Posture
Expansion Under Stress
1 session
Expanding 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 — 633 instruments
Structural lean: +0.422(443 expansionary, 176 contractionary)
Basis Stress
Flip stress
1.56x
elevated
Divergence
1.24x
elevated
Basis flip stress elevated (1.56x baseline). Instrument divergence elevated (1.24x baseline)
Range Compression
Futures
0.85x
below baseline · 422 contracts
Equities
0.71x
below baseline · 2416 contracts
Compressed ranges (0.85x baseline)
Recent Path
Structural Activity
Transitioned from Contraction Under Stress
Next MO Briefing: Monday 08:30 IST