morning thoughts..
The markets yet again opened with a nominal bull gap and continued to stay in a range throughout the day seeking huge volatility and choppiness.
However stock specific activities were on a roll and that looks like the flavour for coming sessions.
Technically it has been too many sessions that the markets have spent in a range , though the undertone is still bullish and strong and any fall is likely to meet buying supports.
On the lower side 5390 remains as strong supports on nifty front whereas 5350 and 5310 are major crucial levels for any downfalls and all longs must be protected by those levels as stoplosses.
On the upside major resistance exists at 5475 and 5525 levels , until and unless a volume based closing above 5525 is seen , no major breakout can be indicated.
However the indices can show false breakout above 5500 and false breakdown below 5350 levels, so it can create a very tricky situation.
So for index traders one must use strict stoploss and book profits in small spread as markets are providing opportunities on both long and short trades.
Gains in terms of percentage and mobility looks more in stocks , so one must concentrate on stocks.
On August 19, there is a new Moon in Leo. A New Moon is when the Sun and the Moon are exactly aligned at the same degree in a conjunction. The Sun is bright, vital, a more masculine energy while the Moon is shadowy, mysterious, more feminine. So getting your Yang and Yin in balance is vital if you are to get the best out of the New Moon.
A New Moon isn't spectacular in the heavens - all we see is faint outline of a crescent Moon. Accordingly, in life what happens with the New Moon isn't dramatic and flamboyant. However, it is a time for new beginnings. This is the time when new ideas pop into our heads, or new friendships, or even when even romances begin - tentatively at first, growing stronger as the Moon days go on.
Since this New Moon is in Leo we all need to think big, be more outgoing, gear our self esteem up to put on a performance in coming days. Leo is the entertainer of the zodiac. It gives the appearance of being regal and super-confident. In reality Leos are often insecure inside so if you don't feel up to strutting your stuff on the social scene remember the old saying - if you don't feel it, fake it. Imagine yourself on stage and act.
Add a few dramatic, exotic touches to your wardrobe and accessories. Leo loves glitz, so go for the gold look. This is the moment when you resolve to shine like the radiant Sun, giving light and warmth to all around, for the next four weeks. Leo is also the sign of the burning heart so it might even stoke up your passions. What starts as a twinkle in your eye could turn into a full blown flirtation.
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ONAM-2010 : THE HARVEST FESTIVAL
Onam is the biggest festival in the Indian state of Kerala. Onam Festival falls during the Malayali month of Chingam (Aug - Sep) and marks the homecoming of legendary King Mahabali. Carnival of Onam lasts for ten days and brings out the best of Kerala culture and tradition. Intricately decorated Pookalam, ambrosial Onasadya, breathtaking Snake Boat Race and exotic Kaikottikali dance are some of the most remarkable features of Onam - the harvest festival in Kerala. Onam is celebrated over four days – This year the Onnam Onam or First Onam is on August 22. Second Onam or the most important day of Onam is the Thiruonam and it is on August 23. Third Onam or Munnam Onam is on August 24. Fourth Onam or Naalam Onam is on August 25
The Origin of Onam
Onam or Thiruonam originated as a joyous annual reminiscence of the golden rule of King Mahabali, a mythical king, who ruled Kerala a very long time ago. It recalls the sacrifice of the great king, his true devotion to God, his human pride and his ultimate redemption. Onam welcomes the spirit of a great king, and assures him that his people are happy and wish him well.
The Legend
Facts and fables blend as Kerala celebrates this royal return, year after year with the festivities of Onam. Legend has it that the gods plotted against Mahabali to end his reign. For this they sent Lord Vishnu to earth in the form of a dwarf Brahmin. But before being trampled down to the netherworld, Vishnu granted the king's sole wish: To visit his land and people once every year.
Onam is a celebration for Ten days. People put flower mats in front of their houses, to welcome the King. There will be competition for the laying of flower mats; Keralites all over the world will be celebrating these ten days will pomp and gaiety. They will wear new dresses, will be visiting almost all temples which they can, they will be performing lot of dances like Thiruvathira kali Thumbi Tullal etc. to name a few and the most important thing is the grant lunch they will be having on the Thiuruvonam day. Which is also called the Second Onam. Whatever may happen they will not miss the Grand lunch.
There is a saying in Malayalam that "Kandam Vittu Onam Unnanam" which means, "We should have the Thiruonam lunch even if we have to sell all our properties". They give that much importance to the lunch on the Thiruonam day. Food in Kerala is served on banana leaves; each one is a about two feet in length, and on the left of the leaf a little pickle is placed along with banana chips ( a favourite with keralites), papadom and different types of curd, either mixed with cucumber (pachei), or fried ladies fingers (khistry) and coconut chutney. Rice, the main dish, is served with many types of vegetable curry. A different curry is served with each helping of rice. The first course is usually with sambhar and pure ghee. Then comes rasam and aviyal ( a large number of vegetables cooked in a curry, again a speciality ), thuvaran ( string beans cooked dry in a little mustard oil, mustard seeds and grated coconut; cabbage can also be prepared like this ), kalan ( dahi with some vegetables), and oalan (a type of yam cooked like a vegetable).
Although this festival has its origin in Hindu mythology, Onam is for all people of all class and creed. Hindus, Muslims and Christians, the wealthy and the downtrodden, all celebrate Onam with equal fervor. The secular character of Onam is peculiar to this land where unity had always coexisted with diversity, especially during festivals, when people come together to celebrate life's unlimited joys.
Yesterday’s calls sent via sms and messenger
Nifty – buy at cmp 5429 sl 5411 targets 5470 , went 5468.95
Nifty 5400 ce – buy at cmp 65 sl 57 targets 83 , went 85.90
Itc - buy at cmp 159.50 sl 158 targets 163 , hit targets like a dot , went 163
Tata coffee - buy at cmp 487 sl 483 targets 505 , went 501.90
Neyveli lignite- buy at cmp 170 sl 168 targets 175 , went 173.50
Itc 160 ca - buy at cmp 2.10 sl 1.80 targets 4 , went 3.25
Bharti airtel 320 ca - buy at cmp 4.70 sl 4 targets 7.50 , hit sl
Tuesdays Stbt Suzlon - booked full profits at 50 , short from 55
Tuesdays Billioniare Drum Ganesh housing – booked full profits at 228 , long from 198
