Market Trade Setup 20th August #Nifty

Start of the 4th week of August happens on a high note. Globally things are looking much calmer than what they were a week ago. The Dollar index is coming down and that puts to rest the fears of Rupee touching 71 per dollar. Today we might see Rupee trying to move back to below 70 levels which is a major psychological positive. Brent Crude is also below 72 dollars at 71.6 and that will be positive for India. Dow Jones closed positive on Friday with a gains of 110 points and Asia is in green today with all Asian markets except Japan in green and Hong Kong market is up more than 300 points.

Coming to domestics, there is a lot of positivity as we are sure of seeing 11500 on Nifty today. Crude is below 72 dollars and Rupee is not going beyond what it has gone on Friday so all this means we will have some positivity. The market rally this month has been broad based with every sector except Automobile sector seeing a growth of 2% or more. The only negative factor is the widening trade deficit but looks like market seem to have digested it. Today it will be global positivity that might drive the markets.

The cues coming from derivatives also seem to be suggesting the same trend. On Friday Nifty Futures has seen some selling and the Nifty long positions have come down to 52% but there is a lot of bullish activity seen in options markets. As the expiry day is nearing we are seeing the demand increasing for long calls and short puts indicating that market is seeing the possibility of a 11600 in this series. 11400 put sae 9.3 lakh contracts while 11500 put saw 6.4 lakh contracts building. On the call side 11600 call sae 4.3 lakh contracts and 11800 call saw 2 lakh contracts build up. The Nifty put call ratio as a result has jumped to 1.66 from 1.60 seen at the beginning of Friday.

What is the Nifty call for the day?

A green Asia means we will have a positive opening above 11500 which is going to be another all time high for Nifty and now its difficult to predict what is the resistance. The options market indicates 11530-11550 is a resistance zone for the day and on the down side it might go to 11480 levels. So, its better to wait and watch today as buying above 11500 is never a great idea as the expiry is not very far. Plus market is shut on Wednesday for Bakr-Eid and that break also might reverse the direction. so for me, today is another wait and watch day, as your portfolios are gaining some value that they have lost in last few months.

Bhagavadgita Chapter 10 Vibhuti Vistara Yoga Verse 34

Chapter 10 Vibhuti Vistara Yoga Verse 34
Shloka

Hari Om Tat SatIti Srimad Bhagavadgeetaasoopanishatsu Brahmavidyaayaam Yogashaastre

Sri Krishnaarjunasamvaade Vibhootiyogo Naama Dashamo’dhyaayah

Translation

Thus in the Upanishads of the glorious Bhagavad Gita, the science of the Eternal, the scripture of Yoga,

the dialogue between Sri Krishna and Arjuna, ends the tenth discourse entitled: “The Yoga of the Divine Glories”

Interpretation

This is the last shloka of Vibhuti Vistara Yoga, after talking about He being the seed of all beings in this World. Thus Lord says that with this, His explanation of the Upanishad of Bhagavad Gita, which is the science of Eternal and the greatest scripture of Yoga a chapter of it finally comes to an end. This chapter has seen a dialogue between Sri Krishna and Arjuna on the “Yoga of Divine glories” where Lord describes to Arjuna in full extend His divine glories.

Extending Interpretation to Mankind’s Life!

Today, an elderly man reading the entire chapter asked me a question, Why should Lord Krishna has to talk so much about His divine glories when we all know that everything in this World is God? A very pertinent question that sums up this Vibhuti Vistara Yoga. Gita is for not just Arjuna. If it was only for Him, many things narrated here are not required. It is for the sea of humanity that is going to read this even after thousands of years after it being delivered. In short, Gita has no life span nor an expiry.

Every Yuga has its own things that match up and that can be related to. When you are living in forests away from humanity, all that you can relate to are forests and mountains like Meru. Comparison with them is apt for those people living in those times. Today when we are living in a world where rain fury, floods, draught etc are an issue, comparing Himself to God of rain makes a lot of sense. In this sense, Gita is timeless and relevant to all the times. Thus this glorious chapter of Vibhuti Vistara Yoga comes to an end and a new chapter starts from tomorrow. Lets welcome it…..