{"schema_version":"1.0","name":"INDA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ea7605b0-30ad-4c66-8560-ced51c3132cc","symbol":"INDA","name":"UBS MSCI India SF UCITS ETF USD acc","exchange":"EBS","country":"CH","asset_type":"etf","currency":"CHF","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Drawdown and recovery pressure, Directional strength and control."},{"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":39,"displayedObservations":39,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","evidenceAlignment":{"status":"Underlying strength ahead of price","headline":"Market Dynamics is improving before price has fully responded","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","take":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.119499,0.213062,0.265907,0.420252,0.523091,0.467034,0.38628,0.395837,0.433208,0.55525,0.695822],"opens":[8.704,9.101,8.987,9.023,8.971,8.859,8.927,8.927,9.104,9.151,9.1],"highs":[8.82,9.101,9.084,9.079,9.019,8.859,8.932,9.174,9.264,9.196,9.111],"lows":[8.704,9.101,8.98,9.023,8.916,8.859,8.73,8.927,9.104,9.1,8.996],"closes":[8.82,9.101,9.048,9.079,9.019,8.859,8.775,9.104,9.151,9.1,9.075],"hoverRows":[[{"label":"Open","value":"8.70","className":"is-ohlc","compact":true},{"label":"High","value":"8.82","className":"is-ohlc","compact":true},{"label":"Low","value":"8.70","className":"is-ohlc","compact":true},{"label":"Close","value":"8.82","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.12","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.10","className":"is-ohlc","compact":true},{"label":"High","value":"9.10","className":"is-ohlc","compact":true},{"label":"Low","value":"9.10","className":"is-ohlc","compact":true},{"label":"Close","value":"9.10","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.21","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.99","className":"is-ohlc","compact":true},{"label":"High","value":"9.08","className":"is-ohlc","compact":true},{"label":"Low","value":"8.98","className":"is-ohlc","compact":true},{"label":"Close","value":"9.05","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.27","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.02","className":"is-ohlc","compact":true},{"label":"High","value":"9.08","className":"is-ohlc","compact":true},{"label":"Low","value":"9.02","className":"is-ohlc","compact":true},{"label":"Close","value":"9.08","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.42","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.97","className":"is-ohlc","compact":true},{"label":"High","value":"9.02","className":"is-ohlc","compact":true},{"label":"Low","value":"8.92","className":"is-ohlc","compact":true},{"label":"Close","value":"9.02","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.52","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.86","className":"is-ohlc","compact":true},{"label":"High","value":"8.86","className":"is-ohlc","compact":true},{"label":"Low","value":"8.86","className":"is-ohlc","compact":true},{"label":"Close","value":"8.86","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.47","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.93","className":"is-ohlc","compact":true},{"label":"High","value":"8.93","className":"is-ohlc","compact":true},{"label":"Low","value":"8.73","className":"is-ohlc","compact":true},{"label":"Close","value":"8.78","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.39","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.93","className":"is-ohlc","compact":true},{"label":"High","value":"9.17","className":"is-ohlc","compact":true},{"label":"Low","value":"8.93","className":"is-ohlc","compact":true},{"label":"Close","value":"9.10","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.40","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.10","className":"is-ohlc","compact":true},{"label":"High","value":"9.26","className":"is-ohlc","compact":true},{"label":"Low","value":"9.10","className":"is-ohlc","compact":true},{"label":"Close","value":"9.15","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.43","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.15","className":"is-ohlc","compact":true},{"label":"High","value":"9.20","className":"is-ohlc","compact":true},{"label":"Low","value":"9.10","className":"is-ohlc","compact":true},{"label":"Close","value":"9.10","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.56","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.10","className":"is-ohlc","compact":true},{"label":"High","value":"9.11","className":"is-ohlc","compact":true},{"label":"Low","value":"9.00","className":"is-ohlc","compact":true},{"label":"Close","value":"9.07","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.70","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[8.75244,9.17356],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.695822,"state":"Positive Market Dynamics ahead of price","context":{"scenario":"dynamicsAhead","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"diagnosis":{"label":"Underlying strength ahead of price","detail":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","annotations":[{"label":"Current tape relationship","value":"Underlying strength ahead of price","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Leading price","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":11,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[10.08,10.026,9.869,9.861,9.861,9.861,9.761,9.767,9.325,9.489,9.798,9.716,9.692,9.601,9.107,8.806,8.579,8.292,8.472,9.016,9.39,9.031,8.91,9.085,8.76,8.856,8.9,8.658,8.82,9.101,9.048,9.079,9.019,8.859,8.775,9.104,9.151,9.1,9.075],"consensus":[0.0,-12.6437,0.0,0.0,-62.6825,-50.0771,-74.7848,-31.0438,-93.0493,0.0,42.3391,-47.0018,-15.9881,-38.4751,-82.172,-78.917,-84.1636,-80.9386,-10.9855,34.3325,58.8761,-25.9229,-22.947,18.9935,-49.4542,0.0,0.0,-53.0079,14.2116,31.185,14.2932,33.3187,17.2471,-25.6297,-36.5897,41.8288,22.65,0.0,16.3996],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,-39.8377,-72.0962,-10.5953,-95.2104,0.0,41.2832,-38.9487,-26.1854,-41.4312,-77.1187,-71.5886,-86.3545,-79.8772,-7.9748,33.4883,51.5945,-40.4753,-39.7812,14.9221,-44.9496,0.0,0.0,-62.4143,21.0712,31.0439,11.9389,34.9032,16.619,-26.4081,-38.998,44.4365,16.8422,0.0,9.3914],"force":[0.0,-12.6437,0.0,0.0,-10.44,-10.44,-57.8071,-15.9806,-85.5977,0.0,85.198,-79.702,-26.7146,-62.0063,-89.5373,-82.3399,-92.2051,-86.3822,-46.1427,93.3582,95.7827,-48.9478,-24.3807,46.7237,-62.9189,0.0,0.0,-50.4016,34.3287,29.8996,5.9228,28.1903,11.4486,-25.0744,-37.0623,63.6484,15.1388,0.0,6.4117],"direction":[null,null,null,null,-99.9986,-90.0916,-89.9844,-88.0024,-95.902,0.0,12.9324,-32.848,-3.3278,-18.2887,-82.6863,-84.8473,-75.9158,-78.2633,-73.4602,6.864,40.836,-7.1549,-2.6838,3.8393,-44.9846,0.0,0.0,-44.1193,7.9972,32.2644,22.9628,35.1709,22.1068,-25.1368,-33.4998,23.263,34.6528,0.0,31.5431],"intensity":[null,null,null,null,25.0,40.0,66.6667,100.0,100.0,88.8889,100.0,81.8182,41.6667,46.1538,92.8571,73.3333,68.75,70.5882,55.5556,100.0,80.0,71.4286,45.4545,43.4783,62.5,28.0,34.6154,62.963,32.1429,82.7586,26.6667,9.6774,18.75,36.3636,32.3529,74.2857,41.6667,13.5135,15.7895],"confirmation":[0.0,26.7126,0.2883,0.0,63.0035,82.9727,91.4547,34.8884,97.5157,41.6605,82.8708,84.1599,51.331,80.9841,94.5965,93.4694,95.144,94.0824,13.6083,59.5958,88.0761,55.635,52.4635,52.3184,84.3043,30.1871,3.3134,84.7398,52.0957,77.9422,49.6879,78.4815,73.3519,76.1727,79.6864,82.0105,75.1076,30.7402,50.3836],"persistence":[null,null,33.3333,25.0,40.0,50.0,57.1429,62.5,75.0,62.5,50.0,62.5,62.5,62.5,62.5,62.5,62.5,75.0,100.0,75.0,50.0,50.0,50.0,25.0,25.0,12.5,0.0,25.0,25.0,0.0,25.0,25.0,50.0,37.5,25.0,50.0,50.0,37.5,37.5],"assessmentRisk":[null,null,null,null,18.5681,24.5521,10.1478,30.684,3.4222,46.4145,11.373,9.5841,56.6512,48.7924,8.7954,10.5219,7.9149,9.5301,44.0958,13.866,20.0197,62.2006,56.3831,2.2109,23.8344,27.9293,0.0693,18.9259,3.6616,19.9864,18.5581,29.6524,27.7845,29.9857,28.0698,14.2835,19.6813,45.8732,39.7168],"volumeParticipation":true,"latest":{"consensus":16.4,"control":9.4,"force":6.4,"direction":31.5,"confirmation":50.4,"persistence":37.5,"assessmentRisk":39.7,"intensity":15.8,"evidenceDepth":100},"analysis":{"status":"Market 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":"Control support is limited","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+16.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+9.4","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+6.4","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+31.5","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"50/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"48.1","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"2.5%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"10.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"56%","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 is rotating through its trend references.","series":[{"label":"Close","values":[10.08,10.026,9.869,9.861,9.861,9.861,9.761,9.767,9.325,9.489,9.798,9.716,9.692,9.601,9.107,8.806,8.579,8.292,8.472,9.016,9.39,9.031,8.91,9.085,8.76,8.856,8.9,8.658,8.82,9.101,9.048,9.079,9.019,8.859,8.775,9.104,9.151,9.1,9.075],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,9.9765,9.9555,9.9202,9.8923,9.7892,9.7346,9.7461,9.7406,9.7318,9.708,9.5987,9.4546,9.2954,9.113,8.9964,9.0,9.0709,9.0636,9.0357,9.0447,8.9929,8.968,8.9557,8.9015,8.8867,8.9257,8.9479,8.9717,8.9803,8.9583,8.925,8.9575,8.9927,9.0122,9.0236],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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,88.0146,40.6753,162.714,130.0838,794.1915,239.9117,412.2137,98.5353,136.3191,71.1875,139.8237,47.9522,163.5447,110.8911,51.9974,61.7619,93.0382,63.4065,65.8838,351.558,33.5665,8.5983,5.1786,8.6342,23.7869,37.2812,0.0,45.5423,73.5101,90.7843,665.5572,42.2104],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,69.9369,67.8129,76.9462,84.4745,65.0,65.0,65.0,65.0,65.0,65.0,65.0,66.0195,69.6168,72.1728,70.9839,69.5701,71.8024,70.2312,71.9194,82.7987,81.7499,82.0189,82.1791,81.9137,82.5174,81.6268,81.6268,80.7663,82.0952,83.7419,67.1732,66.1217],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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