diff --git a/application/execution_receipt_adapter.py b/application/execution_receipt_adapter.py
index 049ebc7..1e05e19 100644
--- a/application/execution_receipt_adapter.py
+++ b/application/execution_receipt_adapter.py
@@ -2,6 +2,7 @@
 
 from __future__ import annotations
 
+from collections.abc import Mapping
 from typing import Any
 
 from quant_platform_kit.common.execution_receipts import (
@@ -10,6 +11,12 @@
 )
 
 
+# Only promote these explicit cycle reasons. Broad no-ops stay ``no_action``
+# so existing digests and projections keep digest-compatible outcomes.
+_NO_SIGNAL_REASON_HEADS = frozenset({"no_signal"})
+_NO_REBALANCE_REASON_HEADS = frozenset({"no_rebalance", "target_diff_below_threshold"})
+
+
 def attach_cycle_execution_receipt(
     report: dict[str, Any],
     cycle_result: object,
@@ -22,11 +29,17 @@ def attach_cycle_execution_receipt(
     """
 
     pending_orders = tuple(getattr(cycle_result, "pending_orders", ()) or ())
+    execution = _as_mapping(getattr(cycle_result, "execution", {}))
     outcome, confirmation = resolve_execution_receipt_fact(
         dry_run=bool(report.get("dry_run")),
         submission_attempted=bool(getattr(cycle_result, "action_done", False)),
         reconciliation_required=bool(pending_orders),
     )
+    if outcome == "no_action" and not bool(report.get("dry_run")):
+        explicit = _explicit_non_action_outcome(execution)
+        if explicit is not None:
+            outcome = explicit
+            confirmation = "not_applicable"
     return attach_runtime_execution_receipt(
         report,
         outcome=outcome,
@@ -48,3 +61,21 @@ def attach_terminal_fallback_execution_receipt(report: dict[str, Any]) -> dict[s
         outcome=outcome,
         broker_confirmation=confirmation,
     )
+
+
+def _as_mapping(value: object) -> Mapping[str, Any]:
+    return value if isinstance(value, Mapping) else {}
+
+
+def _explicit_non_action_outcome(execution: Mapping[str, Any]) -> str | None:
+    """Map only explicit cycle reasons to no_signal / no_rebalance."""
+
+    reason = str(execution.get("no_op_reason") or "").strip().lower()
+    if not reason:
+        return None
+    head = reason.split(":", 1)[0].strip()
+    if head in _NO_SIGNAL_REASON_HEADS:
+        return "no_signal"
+    if head in _NO_REBALANCE_REASON_HEADS:
+        return "no_rebalance"
+    return None
diff --git a/tests/test_execution_receipt_adapter.py b/tests/test_execution_receipt_adapter.py
index 08471da..09e5fe1 100644
--- a/tests/test_execution_receipt_adapter.py
+++ b/tests/test_execution_receipt_adapter.py
@@ -48,3 +48,65 @@ def test_dry_run_never_claims_submission(self) -> None:
         attach_cycle_execution_receipt(report, SimpleNamespace(action_done=True, pending_orders=()))
 
         self.assertEqual(report["execution_receipt"]["outcome"], "no_action")
+
+    def test_explicit_no_signal_reason_is_no_signal(self) -> None:
+        report = _report()
+
+        attach_cycle_execution_receipt(
+            report,
+            SimpleNamespace(
+                action_done=False,
+                pending_orders=(),
+                execution={"no_op_reason": "no_signal"},
+            ),
+        )
+
+        self.assertEqual(report["execution_receipt"]["outcome"], "no_signal")
+        self.assertEqual(report["execution_receipt"]["broker_confirmation"], "not_applicable")
+
+    def test_explicit_no_rebalance_reason_is_no_rebalance(self) -> None:
+        report = _report()
+
+        attach_cycle_execution_receipt(
+            report,
+            SimpleNamespace(
+                action_done=False,
+                pending_orders=(),
+                execution={
+                    "execution_status": "no_op",
+                    "no_op_reason": "target_diff_below_threshold",
+                },
+            ),
+        )
+
+        self.assertEqual(report["execution_receipt"]["outcome"], "no_rebalance")
+        self.assertEqual(report["execution_receipt"]["broker_confirmation"], "not_applicable")
+
+    def test_ambiguous_no_op_reason_stays_no_action(self) -> None:
+        report = _report()
+
+        attach_cycle_execution_receipt(
+            report,
+            SimpleNamespace(
+                action_done=False,
+                pending_orders=(),
+                execution={"execution_status": "no_op", "no_op_reason": "market_closed"},
+            ),
+        )
+
+        self.assertEqual(report["execution_receipt"]["outcome"], "no_action")
+
+    def test_dry_run_keeps_no_action_even_with_explicit_reason(self) -> None:
+        report = _report()
+        report["dry_run"] = True
+
+        attach_cycle_execution_receipt(
+            report,
+            SimpleNamespace(
+                action_done=False,
+                pending_orders=(),
+                execution={"no_op_reason": "no_signal"},
+            ),
+        )
+
+        self.assertEqual(report["execution_receipt"]["outcome"], "no_action")