{
  "ticker": {
    "uuid": "3fda0675-5d1c-4928-835c-7381382a3c86",
    "symbol": "SALONA",
    "name": "Salona Cotspin 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": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -32.346,
    "architecture_energy": 28.855,
    "architecture_maturity": 15.578,
    "architecture_confidence": 65.636,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 23.31,
        "rotation_up": 22.64,
        "upward_expansion": 10.34,
        "deceleration": 53.79,
        "rotation_down": 59.16,
        "downward_expansion": 54.34
      },
      "activity_lines": [
        247.303334,
        251.70909,
        261.068571,
        263.545786
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -1.0
    },
    "latest_close": 245.100006,
    "trend_reference": 263.469001,
    "distance_from_trend": -0.06972,
    "trend_direction": "Weakening",
    "fair_value": 274.159179,
    "distance_from_fair_value": -0.105994,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.7447,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.055455,
    "excess_performance": -0.011746,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.06972,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.012968,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.105994,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.179136,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.057447,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.229374,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.055455,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.211966,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 9506,
      "relative_activity": 1.551405,
      "balance": 0.211966,
      "dry_up": 2.773956,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.101748,
      "annualized_volatility": 0.284387,
      "from_high_reference": -0.231179,
      "from_low_reference": 0.2255
    },
    "levels": {
      "trend_reference": 263.469001,
      "fair_value_reference": 274.159179,
      "structural_low": 200.0,
      "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": 3,
        "median_return": -0.029883,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.038322,
        "regime_survival": 0.333333,
        "best_return": 0.064471,
        "worst_return": -0.063164,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.046566,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.05986,
        "regime_survival": 0.0,
        "best_return": 0.056638,
        "worst_return": 0.036495,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.009107,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.016401,
        "regime_survival": 0.5,
        "best_return": 0.0385,
        "worst_return": -0.020285,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.380656,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.160792,
        "regime_survival": 0.0,
        "best_return": 0.380656,
        "worst_return": 0.380656,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-15",
        "end": "2024-11-22",
        "tenure": "New",
        "return": 0.013284,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-29",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": -0.009842,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-17",
        "end": "2025-05-30",
        "tenure": "Established",
        "return": -0.036046,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-07-18",
        "tenure": "Developing",
        "return": 0.024156,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-25",
        "end": "2025-08-01",
        "tenure": "New",
        "return": -0.001773,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-08-08",
        "end": "2025-10-24",
        "tenure": "Developing",
        "return": 0.168288,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-31",
        "end": "2026-01-02",
        "tenure": "Developing",
        "return": -0.053836,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-09",
        "end": "2026-01-23",
        "tenure": "New",
        "return": -0.026611,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-01-30",
        "end": "2026-02-06",
        "tenure": "New",
        "return": 0.042338,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-13",
        "end": "2026-02-27",
        "tenure": "New",
        "return": 0.044129,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-06",
        "end": "2026-03-27",
        "tenure": "New",
        "return": 0.032471,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-03",
        "end": "2026-06-12",
        "tenure": "Developing",
        "return": -0.050916,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-19",
        "end": "2026-07-03",
        "tenure": "New",
        "return": -0.085052,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-07-10",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": -0.029883,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 40804.7,
        "trend": 249.867109,
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        "relative_strength": -4.053272,
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      },
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        "date": "2023-08-25",
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      },
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      },
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": 5.84854,
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        "modifier": "Re-accelerating",
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      },
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        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
      {
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      },
      {
        "date": "2026-06-05",
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        "trend": 267.350668,
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        "relative_strength": 13.83041,
        "stage": 2,
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        "modifier": "Established expansion",
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      },
      {
        "date": "2026-06-12",
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      },
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      },
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        "date": "2026-06-26",
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        "relative_strength": 1.646633,
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 274.686491,
        "relative_strength": -2.504267,
        "stage": 4,
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        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 3865.7,
        "trend": 264.680668,
        "fair_value": 274.532929,
        "relative_strength": -1.333233,
        "stage": 4,
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        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -22.517991,
        "energy": 39.005334,
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      },
      {
        "date": "2026-07-17",
        "close": 254.699997,
        "volume": 2157,
        "typical_volume": 3458.25,
        "trend": 264.235668,
        "fair_value": 274.482747,
        "relative_strength": -1.019838,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -21.632814,
        "energy": 42.105181,
        "activity_lines": [
          255.186663,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 248.800003,
        "volume": 48011,
        "typical_volume": 5684.85,
        "trend": 263.797335,
        "fair_value": 274.389045,
        "relative_strength": -1.058815,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -32.873904,
        "energy": 42.075806,
        "activity_lines": [
          252.063331,
          257.979999,
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          266.004689
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      },
      {
        "date": "2026-07-31",
        "close": 243.899994,
        "volume": 8314,
        "typical_volume": 5737.2,
        "trend": 263.315668,
        "fair_value": 274.227838,
        "relative_strength": -5.411904,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -36.36889,
        "energy": 38.437988,
        "activity_lines": [
          248.98333,
          254.420907,
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          264.72099
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      },
      {
        "date": "2026-08-07",
        "close": 245.100006,
        "volume": 9506,
        "typical_volume": 6127.35,
        "trend": 263.469001,
        "fair_value": 274.159179,
        "relative_strength": -5.7447,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -32.345595,
        "energy": 28.854547,
        "activity_lines": [
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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."
    }
  }
}