{"schema_version":"1.0","name":"INDIA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"0e88ca24-35a2-460c-b1cf-cc43772fc990","symbol":"INDIA","name":"UBS MSCI India SF UCITS ETF USD acc","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Activity pressure and cumulative balance, Range pressure and compression, Acceleration, deceleration and rollover, Directional strength and control, Drawdown and recovery pressure."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":35,"displayedObservations":35,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.49366,0.596112,0.568503,0.6197,0.650539,0.694121,0.683615],"opens":[7.899,7.764,7.795,7.745,7.886,7.931,7.849],"highs":[7.899,7.795,7.795,7.898,8.016,7.972,7.849],"lows":[7.871,7.764,7.701,7.745,7.886,7.891,7.781],"closes":[7.871,7.795,7.745,7.886,7.958,7.891,7.785],"hoverRows":[[{"label":"Open","value":"7.90","className":"is-ohlc","compact":true},{"label":"High","value":"7.90","className":"is-ohlc","compact":true},{"label":"Low","value":"7.87","className":"is-ohlc","compact":true},{"label":"Close","value":"7.87","className":"is-ohlc","compact":true},{"label":"Market 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Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics paused slightly this week and remains positive.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","tone":"neutral"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough 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Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics paused slightly this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"priceContext":{"label":"Price structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[8.469,8.406,8.439,8.422,7.934,7.96,8.257,8.149,8.237,8.194,7.83,7.64,7.353,7.197,7.19,7.671,7.943,7.664,7.621,7.702,7.507,7.415,7.611,7.476,7.603,7.881,7.911,7.866,7.871,7.795,7.745,7.886,7.958,7.891,7.785],"consensus":[-100.0,-100.0,-81.2698,58.0,-81.7995,-33.146,9.9563,-55.4598,18.1056,-19.3307,-79.0024,-71.4758,-87.4934,-78.8144,-42.8393,22.1165,51.7728,-34.5555,-13.6114,14.3296,-27.9143,-47.5237,22.1821,-54.095,0.0,29.4789,27.5755,23.6741,14.2874,9.8368,-18.1701,49.7365,38.9731,0.0,-19.592],"supportDates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,-15.1984,33.8281,-53.0817,12.8264,-35.6266,-76.2994,-72.4575,-86.4416,-73.7254,-31.8535,26.4375,41.5652,-45.8638,-26.4496,17.0396,-19.8447,-58.3054,24.3872,-55.0974,0.0,18.1594,18.1688,14.9172,2.8902,20.0744,-11.6313,49.9164,38.01,0.0,-35.6995],"force":[-100.0,-100.0,-81.2698,58.0,-57.0363,-1.1061,32.7265,-59.7292,32.3248,-27.0761,-87.8949,-59.7194,-96.0848,-81.3969,-6.8351,68.5631,87.4494,-70.5354,-14.0228,33.8534,-19.5373,-33.4599,60.24,-77.393,0.0,18.4335,9.2437,3.2763,3.5448,2.6818,-41.719,77.0683,34.1013,0.0,-30.5755],"direction":[null,null,null,null,-99.4874,-78.1233,33.5902,-55.1282,13.9826,-4.8256,-75.7396,-78.7513,-82.5589,-82.7857,-81.1117,15.9981,37.9555,-4.0681,-1.3548,2.7131,-43.1204,-45.2473,7.5221,-36.308,0.0,50.3051,51.42,48.2518,46.6562,7.0786,-8.8224,30.0081,43.5537,0.0,-6.6621],"intensity":[null,null,null,null,75.0,40.0,66.6667,28.5714,12.5,33.3333,70.0,36.3636,41.6667,30.7692,42.8571,93.3333,37.5,47.0588,50.0,5.2632,25.0,14.2857,27.2727,26.087,25.0,80.0,3.8462,7.4074,3.5714,27.5862,13.3333,41.9355,43.75,15.1515,35.2941],"confirmation":[54.6667,54.6667,48.673,41.2267,70.3771,55.4056,33.3488,85.9135,74.3076,52.5364,93.593,90.499,96.2758,93.3769,58.112,34.5065,85.8101,58.1832,49.7949,51.0513,76.8003,82.6147,55.1626,86.0052,26.701,77.2691,76.4088,52.4208,28.3297,25.849,74.6318,84.7459,80.3376,30.4031,53.1133],"persistence":[null,null,100.0,50.0,60.0,66.6667,42.8571,50.0,25.0,25.0,25.0,50.0,50.0,50.0,75.0,50.0,50.0,50.0,50.0,25.0,25.0,25.0,0.0,25.0,37.5,12.5,12.5,12.5,37.5,62.5,37.5,62.5,75.0,62.5,37.5],"assessmentRisk":[null,null,null,null,8.5299,32.3791,37.6747,14.8021,35.8197,51.2679,8.7814,13.579,6.2359,10.5888,28.4233,4.8801,22.9669,65.2045,54.0478,0.3517,33.8648,16.3049,13.206,11.6138,17.3444,34.0123,31.0821,35.9139,39.0732,30.9047,33.8553,17.3872,9.3395,33.0764,25.7012],"volumeParticipation":true,"latest":{"consensus":-19.6,"control":-35.7,"force":-30.6,"direction":-6.7,"confirmation":53.1,"persistence":37.5,"assessmentRisk":25.7,"intensity":35.3,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-19.6","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-35.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-30.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-6.7","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"53/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"46.0","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"2.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"23.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"53%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price and its trend references are aligned downward.","series":[{"label":"Close","values":[8.469,8.406,8.439,8.422,7.934,7.96,8.257,8.149,8.237,8.194,7.83,7.64,7.353,7.197,7.19,7.671,7.943,7.664,7.621,7.702,7.507,7.415,7.611,7.476,7.603,7.881,7.911,7.866,7.871,7.795,7.745,7.886,7.958,7.891,7.785],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,8.3548,8.283,8.2783,8.2548,8.2516,8.2411,8.1663,8.0706,7.9402,7.805,7.6932,7.6892,7.7353,7.7224,7.7039,7.7036,7.6678,7.6219,7.6199,7.5937,7.5954,7.6473,7.6953,7.7263,7.7526,7.7603,7.7575,7.7809,7.8131,7.8273,7.8196],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,8.1859,8.1126,8.0443,8.0166,8.0112,7.9855,7.9585,7.9395,7.9074,7.871,7.8517,7.8239,7.8075,7.813,7.8202,7.8236,7.8271,7.8247,7.8188,7.8238,7.8337,7.838,7.8341],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,8.6128,8.6322,8.6744,8.7539,8.8183,8.8448,8.8112,8.7848,8.7564,8.7307,8.7051,8.6328,8.5651,8.4711,8.3678,8.3461,8.3369,8.2757,8.2293,8.1571,8.0783,8.0681,8.0942,8.1231,8.1089,8.0599],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,7.8806,7.7855,7.6484,7.4446,7.2513,7.1121,7.1073,7.1317,7.1274,7.1194,7.1227,7.0988,7.0674,7.0786,7.0873,7.0759,7.0772,7.1038,7.1219,7.1575,7.1964,7.1981,7.1966,7.2282,7.3118,7.4203],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,70.4519,6.7415,79.4766,162.6769,42.4699,196.8553,398.3232,20.9408,53.4958,78.7183,123.703,234.0974,45.752,10.8081,3.7485,79.4147,273.6647,56.5584,3.1034,26.0888,0.0,3.5047,0.7026,264.6315,296.149,52.5409,29.0223,1.9487],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,76.2684,76.8135,70.5313,65.0,65.0,65.0,65.0,65.0,66.7511,69.2941,65.2414,65.0,66.2803,65.9763,65.8855,67.8192,65.0,66.3712,66.4447,67.034,67.034,67.1106,67.0957,65.0,71.9468,73.1184,72.5965,72.5619],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,3.042,2.9387,3.0931,2.9905,3.1688,3.0284,2.9504,3.0934,2.9967,2.9391,2.9074,2.7899,2.8418,2.6713,2.5355,2.3829,2.3323,2.2664,2.2054,2.1461,2.083,2.0615],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,8.8778,10.3144,12.5709,16.165,19.5029,21.7175,21.4079,20.7721,20.5114,20.3312,19.9959,19.5019,19.1606,17.9098,16.57,16.473,16.3443,15.2395,14.4268,13.0546,11.5463,11.3979,11.7399,11.6583,10.3376,8.2625],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-0.1941,-0.2431,-0.2793,-0.2661,-0.2311,-0.2232,-0.2179,-0.2049,-0.2078,-0.2152,-0.2028,-0.2016,-0.1882,-0.1534,-0.1219,-0.0995,-0.0804,-0.0706,-0.0661,-0.0506,-0.0321,-0.0226,-0.0233],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.2289,-0.2278,-0.2258,-0.2216,-0.2189,-0.2181,-0.2151,-0.2124,-0.2075,-0.1967,-0.1817,-0.1653,-0.1483,-0.1328,-0.1195,-0.1057,-0.091,-0.0773,-0.0665],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.0021,0.0046,0.0079,0.0168,0.011,0.003,0.0123,0.0108,0.0194,0.0433,0.0598,0.0658,0.0679,0.0622,0.0533,0.0551,0.0589,0.0547,0.0432],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,23.259,23.6581,24.138,23.9329,23.375,23.2734,23.6193,23.9406,23.5189],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,16.7746,16.1395,29.0902,28.3352,29.6468,28.9678,29.4257,26.7376,25.9469,30.5115,29.1579,30.7073,38.5187,37.9067,37.2958,38.0839,36.4829,35.0873,37.1127,40.0301,38.6211,36.7303],"stroke":"#07865c","width":1.6},{"label":"Negative 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