{
  "ticker": {
    "uuid": "be1ebe48-54f1-4bc2-9d6a-3673e8148410",
    "symbol": "BBL",
    "name": "Bharat Bijlee 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": -44.226,
    "architecture_energy": 61.345,
    "architecture_maturity": 10.82,
    "architecture_confidence": 84.294,
    "architecture_tenure": "New",
    "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": 26.45,
        "rotation_up": 14.36,
        "upward_expansion": 26.92,
        "deceleration": 49.38,
        "rotation_down": 71.26,
        "downward_expansion": 54.25
      },
      "activity_lines": [
        2493.204964,
        2589.673735,
        2667.295016,
        2640.945489
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 2329.399902,
    "trend_reference": 2618.035002,
    "distance_from_trend": -0.110249,
    "trend_direction": "Weakening",
    "fair_value": 3059.326911,
    "distance_from_fair_value": -0.238591,
    "fair_value_direction": "Weakening",
    "relative_strength": -15.031881,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.17895,
    "excess_performance": -0.135241,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.110249,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.023294,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.238591,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.178694,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.150319,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.165508,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.17895,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.71238,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 375240,
      "relative_activity": 1.878541,
      "balance": 0.71238,
      "dry_up": 0.954394,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.071494,
      "annualized_volatility": 0.441085,
      "from_high_reference": -0.317092,
      "from_low_reference": 0.135351
    },
    "levels": {
      "trend_reference": 2618.035002,
      "fair_value_reference": 3059.326911,
      "structural_low": 2051.699951,
      "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": 1,
        "median_return": -0.001807,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.054313,
        "regime_survival": 0.0,
        "best_return": -0.001807,
        "worst_return": -0.001807,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 1,
        "median_return": -0.214627,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.188984,
        "regime_survival": 0.0,
        "best_return": -0.214627,
        "worst_return": -0.214627,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 1,
        "median_return": -0.081159,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.144352,
        "regime_survival": 0.0,
        "best_return": -0.081159,
        "worst_return": -0.081159,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.210868,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.311891,
        "regime_survival": 0.0,
        "best_return": -0.210868,
        "worst_return": -0.210868,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-05-05",
        "end": "2023-10-06",
        "tenure": "Established",
        "return": 0.437146,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-10-13",
        "end": "2023-12-22",
        "tenure": "Developing",
        "return": 0.086516,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-29",
        "end": "2024-08-09",
        "tenure": "Extended",
        "return": 0.955222,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-08-30",
        "tenure": "New",
        "return": 0.123696,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-06",
        "end": "2024-09-27",
        "tenure": "New",
        "return": -0.031378,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-10-04",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.142486,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-15",
        "end": "2024-11-29",
        "tenure": "New",
        "return": 0.030353,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-06",
        "end": "2025-05-02",
        "tenure": "Established",
        "return": -0.267914,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-09-26",
        "tenure": "Established",
        "return": 0.067363,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-03",
        "end": "2025-11-28",
        "tenure": "Developing",
        "return": -0.124841,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-12-05",
        "end": "2026-05-01",
        "tenure": "Established",
        "return": 0.072373,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-08",
        "end": "2026-05-29",
        "tenure": "New",
        "return": -0.003115,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-05",
        "end": "2026-07-31",
        "tenure": "Developing",
        "return": -0.108061,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
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      },
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      {
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      },
      {
        "date": "2026-07-24",
        "close": 2519.399902,
        "volume": 115981,
        "typical_volume": 188936.7,
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        "fair_value": 3051.498037,
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      },
      {
        "date": "2026-07-31",
        "close": 2534.0,
        "volume": 113746,
        "typical_volume": 187151.55,
        "trend": 2636.421672,
        "fair_value": 3056.180371,
        "relative_strength": -7.159598,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "energy": 33.751882,
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      },
      {
        "date": "2026-08-07",
        "close": 2329.399902,
        "volume": 375240,
        "typical_volume": 199750.75,
        "trend": 2618.035002,
        "fair_value": 3059.326911,
        "relative_strength": -15.031881,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -44.225888,
        "energy": 61.34486,
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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."
    }
  }
}