{
  "ticker": {
    "uuid": "03e1c61c-a172-42bf-9237-5530ade29f80",
    "symbol": "ATGL",
    "name": "Adani Total Gas Limited",
    "exchange": "NSI",
    "country": "IN",
    "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": "^NSEI",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 48.249,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 24.172,
    "architecture_energy": 23.465,
    "architecture_maturity": 64.365,
    "architecture_confidence": 94.416,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 48.25,
        "rotation_up": 20.65,
        "upward_expansion": 54.52,
        "deceleration": 90.93,
        "rotation_down": 38.25,
        "downward_expansion": 20.52
      },
      "activity_lines": [
        665.946659,
        687.996065,
        686.193509,
        657.437621
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 657.549988,
    "trend_reference": 617.87119,
    "distance_from_trend": 0.064219,
    "trend_direction": "Improving",
    "fair_value": 715.76748,
    "distance_from_fair_value": -0.081336,
    "fair_value_direction": "Improving",
    "relative_strength": 7.667947,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.209844,
    "excess_performance": 0.253553,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.064219,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.064989,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.081336,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.030734,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.076679,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.011995,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.209844,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.726437,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3107636,
      "relative_activity": 0.177079,
      "balance": 3.726437,
      "dry_up": 0.310674,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.079626,
      "annualized_volatility": 0.433807,
      "from_high_reference": -0.235007,
      "from_low_reference": 0.420808
    },
    "levels": {
      "trend_reference": 617.87119,
      "fair_value_reference": 715.76748,
      "structural_low": 462.799988,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": 0.036229,
        "positive_rate": 0.727273,
        "directional_follow_through": 0.727273,
        "median_excess_return": -0.008261,
        "regime_survival": 0.454545,
        "best_return": 0.317582,
        "worst_return": -0.087964,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.099777,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.058775,
        "regime_survival": 0.166667,
        "best_return": 0.520035,
        "worst_return": -0.123729,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.222266,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.190526,
        "regime_survival": 0.0,
        "best_return": 0.949299,
        "worst_return": -0.165993,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.434716,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.460971,
        "regime_survival": 0.333333,
        "best_return": 1.770321,
        "worst_return": -0.74671,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-08",
        "end": "2024-03-15",
        "tenure": "New",
        "return": -0.020016,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-22",
        "end": "2024-06-07",
        "tenure": "Developing",
        "return": 0.041806,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-06-14",
        "end": "2024-07-12",
        "tenure": "Developing",
        "return": -0.056313,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-07-19",
        "end": "2025-05-09",
        "tenure": "Extended",
        "return": -0.323467,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-05-30",
        "tenure": "New",
        "return": 0.003154,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.00405,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-08-08",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-09-05",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-04-17",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "rotation_up",
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      {
        "regime": "upward_expansion",
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        "active": true
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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    ],
    "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."
    }
  }
}