Market Trade Setup 8th August #Nifty

Markets and News

Yesterday in my Nifty predictions, I had told you to stay away from market as it is likely to be in a very tight range and less volatile. It turned out to be exactly like that. There are some days where trading is not possible we are in such times now. Even the global markets are flat with Dow Jones again ending mildly positive with a 120 plus point gain and Asia today morning has been mildly positive with none of them showing any signs going up big time. Brent Crude is another sign of worry as it crossed 74.5 dollars and trading above that now.

Domestic Cues

On the domestics, the bad news comes from the mutual fund data which has seen a 69% fall for the month of July. This is the second consecutive month of decline and that shows how weak the belief is in the mind of average investor. Hopefully with market going up in August, we might see some revival. On the Q1 results front, the results were mixed yesterday with none of them actually out performing. Adani Enterprises was a big disappointment and with this all Adani companies are reporting bad numbers. Companies like Edelweiss which normally come with good numbers also disappointed. Today is the day for oil with giants like HPCL, BPCL, ONGC that will be reporting their numbers.

Following are the Q1 results expected today.

1. Aditya Birla Capital

2. BEML

3. Bluestar

4. Cipla

5. EID Parrys

6. Digjam

7. Greenply

8. HPCL

9. BPCL

10. Lupin

11. Natco Pharma

12. NMDC

13. NDTV

14. PNB Housing

15. Siemens India

16. Thermax

Derivatives Action

On the derivatives front, there was a lot of buying in the Nifty futures market yesterday as the Nifty fell a bit and was staying in a range. The options market also some action on the call side than on the put side and the Nifty put call ratio reduced to 1.67 from 1.70. 11500 call added 3.9 lakh positions and 11600 call added 3.2 lakh positions and 11400 call added 1.9 lakh positions and 11700 call added 1.1 lakh contracts. On the put side 11400 put added 2.6 lakh contracts and 11200 put added 2.1 lakh contracts. 11000 put still continues to have maximum accumulated open interest of 51.1 lakh contracts and 11500 call with 38.5 lakh accumulated contracts is highest on call side.

What is the Nifty call for the day?

A flat Asia means an absolutely flat open to Nifty around 11400 mark and for last few days its stuck there. 11420-11440 is a very strong resistance and looks like its getting tougher and tougher everyday to break it. On the down side 11320 is a strong support and 11350 is also an intermediate support. So, there is no trade today also like yesterday, but if Nifty goes below 11350 then its wise to take a long position there with 11400-11420 as the target.

Bhagavadgita Chapter 10 Vibhuti Vistara Yoga Verse 22

Chapter 10 Vibhuti Vistara Yoga Verse 22
Shloka

Ashwatthah sarvavrikshaanaam devarsheenaam cha naaradah;

Gandharvaanaam chitrarathah siddhaanaam kapilo munih.

Translation

Among the trees I am the peepul; among the divine sages I am Narada;

among Gandharvas I am Chitraratha; among the perfected the sage Kapila.

Interpretation

Lord Krishna continues his comparisons to the Sages and forces of nature. He says that amongst the trees He compares Himself to Peepal or Banyan tree. Amongst all the divine sages He is comparing Himself to Narada, the greatest of all the sages. Then He goes on to compare Himself with Gandharvas and there He compares Himself to Chitraratha and then He talks about the perfected. Perfected are those who have mastered the yogic unification and here Lord is comparing Himself to the great sage Kapila.

Extending Interpretation to Mankind’s Life!

The present generation needs to know about few things here and one should understand why Lord is comparing Himself to the peepal tree. The leaf, bark, seed as well as the fruit of peepal tree has lot of medicinal properties. Its a cure to snakebites, asthma, skin diseases, kidney diseases, Constipation, impotency and blood related problems can be cured with peepal. Ancient sages found peepal tree ideal for meditation. It was underneath the peepal tree that Gautama Buddha attained enlightenment and thus peepal tree is also called as “Bodhi” tree or tree of wisdom.

Gandharvas are the heavenly beings who are good at fine arts like singing and dancing. Even today we call a person who sings well as “gaana Gandharva” or a person who has a golden voice like Gandharva. Amongst the Gandharvas the one who has such a golden voice is chitrarath. Lord Krishna compares Himself to Chitrarath. Finally He compares Himself to the perfectionist Kapila, who was the founder of the Samkhya sastra of philosophy that is the corner stone of vedic texts in Hinduism, Buddhism and Jainism.