{
  "ticker": {
    "uuid": "5b873c60-a8c5-417b-a00a-663666302d62",
    "symbol": "SANOFI",
    "name": "Sanofi India 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": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 94.242,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -13.938,
    "architecture_energy": 9.104,
    "architecture_maturity": 26.819,
    "architecture_confidence": 61.306,
    "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": 66.17,
        "rotation_up": 25.41,
        "upward_expansion": 25.2,
        "deceleration": 48.88,
        "rotation_down": 21.49,
        "downward_expansion": 44.87
      },
      "activity_lines": [
        3361.599935,
        3359.901771,
        3323.240946,
        3367.57268
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.166667
    },
    "latest_close": 3349.399902,
    "trend_reference": 3489.985807,
    "distance_from_trend": -0.040283,
    "trend_direction": "Weakening",
    "fair_value": 5721.339248,
    "distance_from_fair_value": -0.414578,
    "fair_value_direction": "Improving",
    "relative_strength": -13.969727,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.151474,
    "excess_performance": -0.107765,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.040283,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.081082,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.414578,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.028827,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.139697,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.104672,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.151474,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.331798,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 159316,
      "relative_activity": 1.29611,
      "balance": 0.331798,
      "dry_up": 1.145472,
      "accumulation_observations": 1,
      "distribution_observations": 5
    },
    "risk": {
      "range_context": 0.038657,
      "annualized_volatility": 0.234763,
      "from_high_reference": -0.348068,
      "from_low_reference": 0.096726
    },
    "levels": {
      "trend_reference": 3489.985807,
      "fair_value_reference": 5721.339248,
      "structural_low": 3054.0,
      "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": 4,
        "median_return": -0.026564,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.00677,
        "regime_survival": 0.25,
        "best_return": 0.112241,
        "worst_return": -0.074033,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.029263,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.12406,
        "regime_survival": 0.0,
        "best_return": 0.016503,
        "worst_return": -0.092361,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.188886,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.184038,
        "regime_survival": 0.0,
        "best_return": -0.048734,
        "worst_return": -0.228321,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.267474,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.311155,
        "regime_survival": 0.0,
        "best_return": -0.117614,
        "worst_return": -0.417334,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2022-04-15",
        "end": "2022-05-13",
        "tenure": "Developing",
        "return": -0.074033,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2022-05-20",
        "end": "2023-03-31",
        "tenure": "Extended",
        "return": -0.101962,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-04-07",
        "end": "2023-04-21",
        "tenure": "New",
        "return": 0.005775,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-04-28",
        "end": "2024-03-15",
        "tenure": "Extended",
        "return": 0.399038,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-22",
        "end": "2024-06-07",
        "tenure": "Developing",
        "return": 0.275388,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2024-06-28",
        "tenure": "New",
        "return": -0.049527,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-07-05",
        "end": "2025-04-04",
        "tenure": "Extended",
        "return": -0.086912,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-11",
        "end": "2025-04-18",
        "tenure": "New",
        "return": 0.003532,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-06-27",
        "tenure": "Developing",
        "return": -8.1e-05,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-08-08",
        "tenure": "Developing",
        "return": -0.14496,
        "active": false
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      {
        "regime": "rotation_down",
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        "return": 0.002857,
        "active": false
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      {
        "regime": "downward_expansion",
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        "active": true
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    ],
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
        "close": 3320.0,
        "volume": 211285,
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        "stage": 4,
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        "energy": 13.261331,
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      },
      {
        "date": "2026-08-07",
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        "trend": 3489.985807,
        "fair_value": 5721.339248,
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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."
    }
  }
}