{
  "ticker": {
    "uuid": "d3ec8e6a-89db-4d90-afeb-885d0792d473",
    "symbol": "MAZDOCK",
    "name": "Mazagon Dock Shipbuilders 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": 63.352,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -0.498,
    "architecture_energy": 24.532,
    "architecture_maturity": 6.606,
    "architecture_confidence": 68.829,
    "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": 57.05,
        "rotation_up": 23.79,
        "upward_expansion": 24.33,
        "deceleration": 47.57,
        "rotation_down": 47.5,
        "downward_expansion": 44.67
      },
      "activity_lines": [
        2405.920003,
        2422.967299,
        2457.56717,
        2449.430093
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 2514.899902,
    "trend_reference": 2435.566659,
    "distance_from_trend": 0.032573,
    "trend_direction": "Weakening",
    "fair_value": 2118.991922,
    "distance_from_fair_value": 0.186838,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.39029,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.050089,
    "excess_performance": 0.093799,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.032573,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.02005,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.186838,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.162137,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.003903,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.013419,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.050089,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.494755,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 6688812,
      "relative_activity": 1.262043,
      "balance": 0.494755,
      "dry_up": 0.730364,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.04859,
      "annualized_volatility": 0.330824,
      "from_high_reference": -0.174151,
      "from_low_reference": 0.222368
    },
    "levels": {
      "trend_reference": 2435.566659,
      "fair_value_reference": 2118.991922,
      "structural_low": 2057.399902,
      "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": 0.106437,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.088064,
        "regime_survival": 0.0,
        "best_return": 0.137622,
        "worst_return": 0.053921,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.879798,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.774422,
        "regime_survival": 0.0,
        "best_return": 1.412592,
        "worst_return": 0.019778,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 2.094579,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 1.993544,
        "regime_survival": 0.0,
        "best_return": 2.316584,
        "worst_return": -0.120509,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 4.097952,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 3.906146,
        "regime_survival": 0.0,
        "best_return": 4.097952,
        "worst_return": 4.097952,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-03",
        "end": "2024-08-16",
        "tenure": "Established",
        "return": 1.10384,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-23",
        "end": "2024-12-20",
        "tenure": "Established",
        "return": 0.080192,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-12-27",
        "end": "2025-01-03",
        "tenure": "New",
        "return": -0.034737,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-10",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.189214,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-04-04",
        "end": "2025-06-27",
        "tenure": "Established",
        "return": 0.249934,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-04",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": -0.182517,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-08-22",
        "end": "2025-09-12",
        "tenure": "New",
        "return": 0.083102,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-19",
        "end": "2025-09-26",
        "tenure": "New",
        "return": -0.05273,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-03",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.052858,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-07",
        "end": "2026-04-17",
        "tenure": "Established",
        "return": -0.017133,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-24",
        "end": "2026-05-01",
        "tenure": "New",
        "return": 0.019699,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-08",
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        "tenure": "New",
        "return": -0.070824,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
        "return": -0.066232,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "tenure": "New",
        "return": 0.055882,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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        "fair_value": 2108.303306,
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      },
      {
        "date": "2026-08-07",
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        "trend": 2435.566659,
        "fair_value": 2118.991922,
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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."
    }
  }
}