{
  "ticker": {
    "uuid": "033a7f1b-d574-4fbd-8fb8-b22dddf97138",
    "symbol": "H1DB34",
    "name": "HDFC Bank Limited",
    "exchange": "SAO",
    "country": "BR",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^BVSP",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -55.665,
    "architecture_energy": 53.77,
    "architecture_maturity": 69.444,
    "architecture_confidence": 69.403,
    "architecture_tenure": "Extended",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 32.37,
        "rotation_up": 10.18,
        "upward_expansion": 13.92,
        "deceleration": 56.26,
        "rotation_down": 68.05,
        "downward_expansion": 72.92
      },
      "activity_lines": [
        24.583334,
        25.207041,
        25.181583,
        26.079775
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 24.41,
    "trend_reference": 27.957643,
    "distance_from_trend": -0.126894,
    "trend_direction": "Weakening",
    "fair_value": 33.074602,
    "distance_from_fair_value": -0.261971,
    "fair_value_direction": "Weakening",
    "relative_strength": -29.136651,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.312588,
    "excess_performance": -0.25554,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.126894,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.143049,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.261971,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.014387,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.291367,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.133582,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.312588,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.243109,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 8,
      "relative_activity": 0.011071,
      "balance": 0.243109,
      "dry_up": 1.014046,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.042235,
      "annualized_volatility": 0.334769,
      "from_high_reference": -0.445227,
      "from_low_reference": 0.068638
    },
    "levels": {
      "trend_reference": 27.957643,
      "fair_value_reference": 33.074602,
      "structural_low": 22.842164,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.005526,
        "positive_rate": 0.391304,
        "directional_follow_through": 0.608696,
        "median_excess_return": -0.016788,
        "regime_survival": 0.826087,
        "best_return": 0.146629,
        "worst_return": -0.193548,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.05847,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.082362,
        "regime_survival": 0.625,
        "best_return": 0.195597,
        "worst_return": -0.269061,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.051602,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.097218,
        "regime_survival": 0.5,
        "best_return": 0.19725,
        "worst_return": -0.285714,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.084801,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.058385,
        "regime_survival": 0.0,
        "best_return": 0.270746,
        "worst_return": -0.101145,
        "sufficient": false
      }
    ],
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        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-20",
        "end": "2024-10-11",
        "tenure": "New",
        "return": -0.080927,
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-10-25",
        "tenure": "New",
        "return": 0.050607,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-02-21",
        "tenure": "Developing",
        "return": -0.031019,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2025-03-07",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-03-28",
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        "return": 0.068015,
        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
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      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": -0.005299,
        "active": false
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      {
        "regime": "deceleration",
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        "end": "2025-08-22",
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        "return": 0.001745,
        "active": false
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        "return": -0.014324,
        "active": false
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2025-11-21",
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      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2026-01-16",
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        "active": false
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      {
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        "active": true
      }
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      },
      {
        "date": "2026-05-01",
        "close": 24.755541,
        "volume": 31,
        "typical_volume": 88.35,
        "trend": 34.612963,
        "fair_value": 33.68212,
        "relative_strength": -45.438845,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -83.211078,
        "energy": 72.7011,
        "activity_lines": [
          25.960011,
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          29.613205,
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        ]
      },
      {
        "date": "2026-05-08",
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        "trend": 34.156891,
        "fair_value": 33.635491,
        "relative_strength": -42.494864,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.512747,
        "energy": 69.216656,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 24.331442,
        "volume": 5872,
        "typical_volume": 377.25,
        "trend": 33.643606,
        "fair_value": 33.585833,
        "relative_strength": -41.838714,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -77.549056,
        "energy": 71.058651,
        "activity_lines": [
          25.052739,
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          28.271969,
          30.662291
        ]
      },
      {
        "date": "2026-05-22",
        "close": 24.311716,
        "volume": 1448,
        "typical_volume": 449.65,
        "trend": 33.125996,
        "fair_value": 33.538055,
        "relative_strength": -40.777991,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -73.559988,
        "energy": 69.470277,
        "activity_lines": [
          24.667433,
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      },
      {
        "date": "2026-05-29",
        "close": 23.917206,
        "volume": 460,
        "typical_volume": 470.9,
        "trend": 32.62457,
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        "relative_strength": -40.100463,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 69.853383,
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      },
      {
        "date": "2026-06-05",
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        "volume": 0,
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        "fair_value": 33.443087,
        "relative_strength": -37.538225,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
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        "direction": -73.026242,
        "energy": 68.904565,
        "activity_lines": [
          24.144049,
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      },
      {
        "date": "2026-06-12",
        "close": 24.07501,
        "volume": 504,
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        "trend": 31.651977,
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        "relative_strength": -37.0199,
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        "gate": "down",
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        "energy": 66.781379,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -29.896765,
        "stage": 4,
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        "gate": "down",
        "direction": -51.43915,
        "energy": 52.522818,
        "activity_lines": [
          25.22111,
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          25.748563,
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        ]
      },
      {
        "date": "2026-07-03",
        "close": 26.83,
        "volume": 0,
        "typical_volume": 498.2,
        "trend": 30.240643,
        "fair_value": 33.29715,
        "relative_strength": -28.457467,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -41.475072,
        "energy": 32.652816,
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      },
      {
        "date": "2026-07-10",
        "close": 27.200001,
        "volume": 2020,
        "typical_volume": 598.55,
        "trend": 29.855977,
        "fair_value": 33.266131,
        "relative_strength": -27.988737,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -28.367105,
        "energy": 36.772559,
        "activity_lines": [
          26.519667,
          25.642378,
          25.720713,
          27.239382
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      },
      {
        "date": "2026-07-17",
        "close": 26.799999,
        "volume": 633,
        "typical_volume": 629.9,
        "trend": 29.465977,
        "fair_value": 33.225868,
        "relative_strength": -26.333798,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -10.608772,
        "energy": 32.428323,
        "activity_lines": [
          26.781333,
          25.935825,
          25.73924,
          27.042222
        ]
      },
      {
        "date": "2026-07-24",
        "close": 23.700001,
        "volume": 2290,
        "typical_volume": 722.85,
        "trend": 28.90931,
        "fair_value": 33.174765,
        "relative_strength": -33.944137,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -50.488191,
        "energy": 27.948402,
        "activity_lines": [
          25.828,
          25.638505,
          25.492815,
          26.670224
        ]
      },
      {
        "date": "2026-07-31",
        "close": 23.700001,
        "volume": 0,
        "typical_volume": 722.25,
        "trend": 28.352643,
        "fair_value": 33.122721,
        "relative_strength": -34.331537,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -69.283203,
        "energy": 50.635054,
        "activity_lines": [
          24.995334,
          25.352667,
          25.288247,
          26.334139
        ]
      },
      {
        "date": "2026-08-07",
        "close": 24.41,
        "volume": 8,
        "typical_volume": 722.6,
        "trend": 27.957643,
        "fair_value": 33.074602,
        "relative_strength": -29.136651,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -55.664601,
        "energy": 53.769954,
        "activity_lines": [
          24.583334,
          25.207041,
          25.181583,
          26.079775
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}