27 Nov 2024

MO Briefing

27 Nov 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Expansion Under Stress

4 sessions

Expanding with internal strain. Basis structure under stress.

How to read this

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 — 548 instruments

41%
26%
13%
20%
Long Buildup 222Short Buildup 140Long Unwind 73Short Cover 109Neutral 4

Structural lean: +0.215(331 expansionary, 213 contractionary)

Basis Stress

Flip stress

1.39x

elevated

Divergence

0.90x

below baseline

Basis flip stress elevated (1.39x baseline). Instrument divergence below baseline (0.90x)

Range Compression

Futures

0.71x

below baseline · 8 contracts

Equities

0.74x

below baseline · 1958 contracts

Compressed ranges (0.71x baseline)

Recent Path

Contraction Under Stress18
→
Expansion Under Stress19
→
Contraction Under Stress21
→
Expansion Under Stress22
→
Expansion Under Stress25
→
Expansion Under Stress26
→
Expansion Under Stress27

Structural Activity

Active
posture held|flip stress elevated|divergence normal

Next MO Briefing: Monday 08:30 IST

MarketObservatory describes the structural condition of the market. It does not predict price direction.