MO Briefing
25 Feb 2026 · NSE Derivatives Structure
Posture
Fragmented Expansion
2 sessions
Expansionary 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 — 627 instruments
Structural lean: +0.300(383 expansionary, 195 contractionary)
Basis Stress
Flip stress
0.25x
below baseline
Divergence
1.16x
elevated
Basis flip stress below baseline (0.25x). Instrument divergence elevated (1.16x baseline)
Range Compression
Futures
0.96x
below baseline · 627 contracts
Equities
0.76x
below baseline · 2420 contracts
Compressed ranges (0.96x baseline)
Recent Path
Structural Activity
Next MO Briefing: Monday 08:30 IST