Market Trade Setup 9th August #Nifty

Markets and News

http://myclassicgarage.com.au/embedded/ Another new all time high hit yesterday and the market is moving only higher, higher and higher. The US markets are also playing the ball and yesterday NASDAQ posted 7 session positive closing which is happening only second time this year. Dow Jones took a slight breather last night when it closed 50 points down. The best news is coming from the Crude oil front, where Crude it a 7 week low with brent crude falling below 72.5 dollars straight from 75 dollars. Asia is gravitating between mild red and mild green.

Domestic Cues

follow link On the domestic front, the story of this month has been coming back of FIIs to the Indian markets. In May and June FIIs sod in cast market and July saw an almost flat action from FIIs. August however saw some positivity and they bought 1134 crore and that means money is coming back to India from FIIs. On the other news, HPCL and BPCL have reported weak numbers on the back of increasing Crude price and pressure on margins. NMDC is down but they look much better than expectations. In the pharma space Cipla has come up with a decent set of numbers.

Derivatives Action

On the derivatives front there has been a mixed action on the futures front and the Nifty long positions on futures remained constant at 58%. However the action on options front was different with a lot of demand getting created for options. The Nifty put call ratio rose to 1.77 from 1.67 and that is the big worry. 11300 put added 7.9 lakh contracts and 11400 put added 7.8 lakh contracts and 11500 put added 3.8 lakh contracts. On the call side 11700 call added 2.1 lakh contracts while in all the other strikes there was unwinding of positions.

What is the Nifty call for the day?

nizoral 2 buy A flat Asia means we might open flat around 11450 and these all time high areas really dont have markers. Crude is positive but the internals are putting pressure on markets. If FIIs continue buying in cash market, it will make Nifty to go up, but this is an exhausted Nifty and 11480 is a zone where it might halt. On the down side where to buy doxycycline 100mg 11400-11420 is a support zone and we need to see whether Nifty has the mojo to cross 11480 or not.

Bhagavadgita Chapter 10 Vibhuti Vistara Yoga Verse 23

Chapter 10 Vibhuti Vistara Yoga Verse 23
Shloka

Ucchaihshravasamashwaanaam viddhi maamamritodbhavam;

Airaavatam gajendraanaam naraanaam cha naraadhipam.

Translation

Know Me as Ucchaisravas, born of nectar among horses;

among lordly elephants I am the Airavata; and among men, the king.

Interpretation

This shloka is the continuation of the previous shloka where Lord compares Himself to Ucchaisravas. Ucchaisravas is a special type of seven headed horse, which is considered to be the best amongst all the horses. After that Lord Krishna goes on to compares Himself to Airavata, which is the elephant that carries Indra, the King of the heaven. Then amongst the normal human beings living in this world Lord Krishna compares Himself to the King, who is the ruler of the people and looks after their welfare.

Extending Interpretation to Mankind’s Life!

I am going to explain two things in this shloka. First is Lord comparing Himself to a King. There are innumerable kingdoms across the world and there are countless kings ruling those kingdoms? Why is Lord, who is so special is comparing Himself to a King? It is because, He is looking mostly at the virtues of a King. A king takes care of the well-being of his people and is responsible for everything that happens to them. In the same way Lord Krishna in the lives of human beings, plays a similar role and takes care of the needs and well being of all the people in this world, that includes kings. So, He is the king amongst the kings.

The second thing is Lord comparing Himself to Ucchaisravas and Airavata. We need to know a bit about the both. Ucchaisravas is a snow-white flying horse that came out of the “Samudra manthan” that happened between devas and asuras. It is milky white and has seven heads. Ucchaisravas is the vehicle of the Sun god and in some vedic texts it is also mentioned to be vehicle for Bali, the King of demons. The other is the Airavata which is the vehicle for Indra. It is also seem to have emerged during Samudra manthan and Airavata stands at the entrance of the heaven.