{"schema_version":"1.0","name":"IONEXCHANG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"15e178cc-d2f2-4495-8464-40b1eccb8eb4","symbol":"IONEXCHANG","name":"Ion Exchange (India) Limited","exchange":"NSI","country":"IN","asset_type":"equity","currency":"INR","sector":"Industrials","industry":"Pollution & Treatment Controls"},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Drawdown and recovery pressure, Strength versus the research benchmark, Acceleration, deceleration and rollover, Range position and boundary pressure, Activity pressure and cumulative balance."},{"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":"2026-08-14","observations":234,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":3,"completedEpisodes":3,"activeEpisodes":0,"medianExpectedMove":14.7,"averageExpectedMove":17.5,"averageWeeksToLargestMove":11.0,"horizons":[{"weeks":4,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":-4.1,"medianReturn":-4.6,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":3,"expectedCount":2,"expectedPercent":66.7,"averageReturn":-14.1,"medianReturn":-14.7,"confidenceLow":20.8,"confidenceHigh":93.9,"confidence":"Mixed historical record"},{"weeks":26,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":-25.9,"medianReturn":-26.1,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-3.4,"sample":3},{"week":2,"averageReturn":-6.5,"sample":3},{"week":3,"averageReturn":-8.5,"sample":3},{"week":4,"averageReturn":-4.1,"sample":3},{"week":5,"averageReturn":-5.2,"sample":3},{"week":6,"averageReturn":-2.2,"sample":3},{"week":7,"averageReturn":-7.6,"sample":3},{"week":8,"averageReturn":-10.4,"sample":3},{"week":9,"averageReturn":-11.3,"sample":3},{"week":10,"averageReturn":-13.0,"sample":3},{"week":11,"averageReturn":-9.7,"sample":3},{"week":12,"averageReturn":-14.1,"sample":3},{"week":13,"averageReturn":-16.1,"sample":3},{"week":14,"averageReturn":-19.9,"sample":3},{"week":15,"averageReturn":-19.5,"sample":3},{"week":16,"averageReturn":-22.6,"sample":3},{"week":17,"averageReturn":-22.6,"sample":3},{"week":18,"averageReturn":-24.3,"sample":3},{"week":19,"averageReturn":-25.5,"sample":3},{"week":20,"averageReturn":-24.4,"sample":3},{"week":21,"averageReturn":-28.1,"sample":3},{"week":22,"averageReturn":-28.5,"sample":3},{"week":23,"averageReturn":-26.2,"sample":3},{"week":24,"averageReturn":-24.0,"sample":3},{"week":25,"averageReturn":-27.0,"sample":3},{"week":26,"averageReturn":-25.9,"sample":3}]},"currentApplication":{"status":"Support weakening","tone":"caution","headline":"Positive Market Dynamics has weakened over four weeks","use":"Use the weaker four-week path as caution until price and Market Dynamics establish clearer agreement.","confirm":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"accumulation","zoneContext":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 66.7% of completed 12-week outcomes were higher across 3 cases. Distinct visits lasted 5.0 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 25.7% across 19 completed cases, with the largest move arriving after 8.3 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-01-02","price":386.549988},{"date":"2026-02-06","price":378.600006},{"date":"2026-04-10","price":378.100006},{"date":"2026-06-26","price":398.649994}],"distribution_rollovers":[{"date":"2024-08-30","price":645.191833},{"date":"2024-09-27","price":647.103149}],"price_pressure_gaps":[{"date":"2024-09-20","price":676.548645},{"date":"2024-11-01","price":691.74469},{"date":"2024-12-06","price":712.869751}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","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"],"close":[716.3772,645.1918,662.6978,674.6055,676.5486,647.1031,653.2812,630.5618,672.6126,630.7612,691.7447,668.3776,632.3555,624.334,660.1568,712.8698,694.2358,660.4557,649.4448,661.2529,627.3732,646.4554,590.2549,579.5928,558.5176,519.3068,513.6768,498.1319,501.1213,454.1879,490.4592,465.4977,461.6613,481.4412,514.7728,523.3425,511.086,511.2354,556.425,566.29,542.3251,541.8766,544.5173,509.7905,533.1078,541.7272,543.3713,546.5102,464.6507,455.1843,449.9529,429.6251,443.2766,415.9735,417.25,413.3,424.55,406.5,410.75,399.6,402.25,399.25,400.25,380.15,367.55,346.05,350.5,339.85,351.15,373.85,383.5,386.55,354.5,356.45,349.55,354.2,378.6,388.1,381.15,364.1,347.0,337.8,338.05,333.25,347.5,378.1,400.75,397.35,396.4,419.25,390.15,395.05,362.05,350.65,345.6,370.4,398.65,418.35,468.3,435.4,425.1,420.7,371.6,372.95],"consensus":[54.054,-34.5708,14.5692,15.83,0.0,-19.5794,0.0,-22.7546,28.8274,-29.7736,41.4564,-8.2186,-30.9194,-25.0448,17.7867,52.4109,0.0,-19.8762,-14.5458,0.0,-41.5997,9.9499,-53.7407,-25.2339,-43.4097,-57.1558,-34.1089,-43.2935,-24.9923,-63.0116,0.0,-52.0563,-39.3895,10.8041,21.4177,16.8665,0.0,0.0,45.9106,31.5416,0.0,0.0,0.0,-40.652,20.0794,13.7773,9.2157,12.3346,-65.339,-45.9699,-41.9632,-57.2052,-15.8548,-57.6391,-34.1482,-35.2255,-12.1445,-46.8799,-15.1541,-37.8901,-17.3957,-26.9735,-15.0611,-49.5671,-51.0744,-63.5229,-26.763,-52.5529,-10.5137,25.8329,22.6758,16.9056,-42.2256,-8.1904,-33.5091,0.0,44.6588,31.9255,0.0,-22.7842,-32.8295,-36.2661,-22.9092,-24.9079,13.8037,48.0719,52.4971,20.8537,18.9572,56.9661,-20.0299,14.2392,-49.3658,-34.4949,-16.9154,0.0,35.8429,37.6582,74.0032,0.0,0.0,0.0,-57.8424,34.5121],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","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"],"control":[-13.2258,-63.6263,-35.64,-39.2672,-9.5265,-55.5936,-14.0261,-41.8158,-12.1339,-32.9366,-13.1489,-57.5005,-56.4238,-69.3211,-20.5044,-57.8703,-7.9609,15.3273,13.5292,7.1605,-54.171,-2.8511,-32.7305,0.0,36.9705,21.3963,0.0,-34.0669,-31.9713,-26.2341,-18.9757,-19.9748,17.8127,44.067,48.2834,10.5326,6.9105,48.8253,-23.4916,15.4178,-43.8366,-35.3698,-6.1682,0.0,35.9155,28.8981,70.4835,0.0,0.0,0.0,-50.5072,37.5512],"force":[-16.3091,-54.8767,-9.7687,-16.6504,-19.7394,-44.6013,-7.8343,-30.038,-4.1681,-12.1839,-2.1031,-47.3735,-43.3633,-62.9185,-2.4572,-40.0583,-26.4507,68.1199,39.437,17.4025,-59.063,-7.8718,-32.6489,0.0,82.6081,42.0439,0.0,-40.1533,-33.8466,-47.8425,-9.1029,-17.4501,35.8757,67.9787,59.8682,2.5349,0.0357,73.1681,-55.9774,9.1804,-88.0422,-25.3503,-0.4461,0.0,30.0562,30.7099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Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+34.5","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+37.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+23.7","detail":"Upward 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