04 Dec 2024

MO Briefing

04 Dec 2024 · NSE Derivatives Structure

coherentstressedexpansioncontraction

Posture

Coordinated Expansion

1 session

Instruments aligned in expansion. Structure is coherent.

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 — 684 instruments

41%
31%
15%
Long Buildup 280Short Buildup 213Long Unwind 53Short Cover 103Neutral 35

Structural lean: +0.171(383 expansionary, 266 contractionary)

Basis Stress

Flip stress

0.60x

below baseline

Divergence

1.00x

below baseline

Basis flip stress below baseline (0.60x). Instrument divergence below baseline (1.00x)

Range Compression

Futures

0.95x

below baseline · 11 contracts

Equities

0.80x

below baseline · 1964 contracts

Compressed ranges (0.95x baseline)

Recent Path

Expansion Under Stress26
→
Expansion Under Stress27
→
Fragmented Contraction28
→
Fragmented Expansion29
→
Coordinated Expansion02
→
Fragmented Expansion03
→
Coordinated Expansion04

Structural Activity

Active
posture changed|flip stress normal|divergence normal

Transitioned from Fragmented Expansion

Next MO Briefing: Monday 08:30 IST

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