{
  "ticker": {
    "uuid": "138e5dff-0eec-4280-a7dd-277c1bde1550",
    "symbol": "DALBHARAT",
    "name": "Dalmia Bharat 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": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -9.202,
    "architecture_energy": 14.322,
    "architecture_maturity": 29.412,
    "architecture_confidence": 64.69,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 64.41,
        "rotation_up": 34.31,
        "upward_expansion": 29.72,
        "deceleration": 49.79,
        "rotation_down": 16.94,
        "downward_expansion": 40.38
      },
      "activity_lines": [
        1813.406665,
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        1783.746763,
        1814.837295
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.166667
    },
    "latest_close": 1827.400024,
    "trend_reference": 1877.405404,
    "distance_from_trend": -0.026635,
    "trend_direction": "Weakening",
    "fair_value": 1975.211815,
    "distance_from_fair_value": -0.074833,
    "fair_value_direction": "Improving",
    "relative_strength": -8.008931,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.137327,
    "excess_performance": -0.093618,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.026635,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.04961,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.074833,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.015998,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.080089,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.024691,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.137327,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.696439,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 646342,
      "relative_activity": 0.560063,
      "balance": 0.696439,
      "dry_up": 1.086261,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.049278,
      "annualized_volatility": 0.233581,
      "from_high_reference": -0.266582,
      "from_low_reference": 0.135888
    },
    "levels": {
      "trend_reference": 1877.405404,
      "fair_value_reference": 1975.211815,
      "structural_low": 1608.785152,
      "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": 16,
        "median_return": 0.028941,
        "positive_rate": 0.5625,
        "directional_follow_through": 0.5625,
        "median_excess_return": 0.00326,
        "regime_survival": 0.5625,
        "best_return": 0.115674,
        "worst_return": -0.094677,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": 0.018392,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.005219,
        "regime_survival": 0.555556,
        "best_return": 0.219125,
        "worst_return": -0.193846,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.06124,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.035241,
        "regime_survival": 0.2,
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        "worst_return": -0.179301,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.1574,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.084114,
        "regime_survival": 0.333333,
        "best_return": 0.229106,
        "worst_return": -0.149719,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-07-12",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "active": false
      },
      {
        "regime": "balance",
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        "end": "2025-03-07",
        "tenure": "Extended",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-04-04",
        "tenure": "New",
        "return": 0.148311,
        "active": false
      },
      {
        "regime": "balance",
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        "active": false
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        "active": false
      },
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        "regime": "upward_expansion",
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        "active": false
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        "active": true
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      "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."
    }
  }
}