{
  "ticker": {
    "uuid": "d1e081ba-7348-41ed-ad3d-60e52161b463",
    "symbol": "TNPL",
    "name": "Tamil Nadu Newsprint and Papers 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": 65.139,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 74.059,
    "architecture_energy": 64.985,
    "architecture_maturity": 10.157,
    "architecture_confidence": 87.997,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 22.48,
        "rotation_up": 67.08,
        "upward_expansion": 86.39,
        "deceleration": 45.97,
        "rotation_down": 13.05,
        "downward_expansion": 13.06
      },
      "activity_lines": [
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        147.557048,
        145.079398
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 156.600006,
    "trend_reference": 142.110333,
    "distance_from_trend": 0.101961,
    "trend_direction": "Improving",
    "fair_value": 192.320372,
    "distance_from_fair_value": -0.185734,
    "fair_value_direction": "Improving",
    "relative_strength": 8.125888,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.1119,
    "excess_performance": 0.155609,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.101961,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.006709,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.185734,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.021121,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.081259,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.002288,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.1119,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.874575,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 687327,
      "relative_activity": 0.954153,
      "balance": 4.874575,
      "dry_up": 2.090513,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.043663,
      "annualized_volatility": 0.209844,
      "from_high_reference": -0.113415,
      "from_low_reference": 0.288783
    },
    "levels": {
      "trend_reference": 142.110333,
      "fair_value_reference": 192.320372,
      "structural_low": 121.510002,
      "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": 15,
        "median_return": -0.050566,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.046277,
        "regime_survival": 0.6,
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        "worst_return": -0.129472,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
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        "median_excess_return": -0.08155,
        "regime_survival": 0.0,
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        "worst_return": -0.145888,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
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        "directional_follow_through": 0.5,
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        "worst_return": -0.203248,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "directional_follow_through": 0.333333,
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        "worst_return": -0.199582,
        "sufficient": false
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    ],
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      {
        "regime": "balance",
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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      },
      {
        "regime": "downward_expansion",
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      },
      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "tenure": "Extended",
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      {
        "regime": "rotation_up",
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      },
      {
        "regime": "deceleration",
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      {
        "regime": "balance",
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        "active": false
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      {
        "regime": "downward_expansion",
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      },
      {
        "date": "2026-04-17",
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        "typical_volume": 449542.95,
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        "fair_value": 198.709539,
        "relative_strength": -2.712617,
        "stage": 4,
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        "modifier": "Established contraction",
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 589363.7,
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        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 650982.55,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 672376.35,
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        "relative_strength": 5.829438,
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        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 32.81957,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 675609.1,
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        "relative_strength": 5.807213,
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        "gate": "mixed",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 671464.0,
        "trend": 140.991667,
        "fair_value": 195.36531,
        "relative_strength": 3.683082,
        "stage": 1,
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        "direction": 51.098263,
        "energy": 31.324794,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 662995.75,
        "trend": 140.876667,
        "fair_value": 194.971906,
        "relative_strength": 2.403295,
        "stage": 1,
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "energy": 18.71748,
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      },
      {
        "date": "2026-07-03",
        "close": 147.309998,
        "volume": 74785,
        "typical_volume": 505779.0,
        "trend": 141.108,
        "fair_value": 193.942275,
        "relative_strength": 2.461863,
        "stage": 1,
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-07-10",
        "close": 143.720001,
        "volume": 420522,
        "typical_volume": 513817.7,
        "trend": 141.13,
        "fair_value": 193.584909,
        "relative_strength": 0.450306,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.242679,
        "energy": 16.176502,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 145.25,
        "volume": 258380,
        "typical_volume": 515622.45,
        "trend": 141.185666,
        "fair_value": 193.265313,
        "relative_strength": 1.219834,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.517115,
        "energy": 15.541174,
        "activity_lines": [
          145.228667,
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      },
      {
        "date": "2026-07-24",
        "close": 149.75,
        "volume": 3780196,
        "typical_volume": 684993.85,
        "trend": 141.376,
        "fair_value": 192.967572,
        "relative_strength": 6.920923,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 54.691816,
        "energy": 27.305275,
        "activity_lines": [
          146.701334,
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          145.544904,
          143.486774
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      },
      {
        "date": "2026-07-31",
        "close": 151.0,
        "volume": 1297724,
        "typical_volume": 704867.45,
        "trend": 141.538333,
        "fair_value": 192.651098,
        "relative_strength": 5.104301,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 58.650012,
        "energy": 35.4757,
        "activity_lines": [
          148.3,
          147.000545,
          146.321238,
          144.107677
        ]
      },
      {
        "date": "2026-08-07",
        "close": 156.600006,
        "volume": 687327,
        "typical_volume": 720352.75,
        "trend": 142.110333,
        "fair_value": 192.320372,
        "relative_strength": 8.125888,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.059417,
        "energy": 64.984653,
        "activity_lines": [
          151.364669,
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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."
    }
  }
}