Thanksgiving Day: Check out why the national holiday is celebrated

Thanksgiving in the United States is a celebration of the culture and tradition of peace and thankfulness. Thanksgiving, which is also a national holiday, is celebrated in November. This year, Thanksgiving is on November 24.

Agencies
Many American families wait for November to arrive. Then, some start preparing a special menu as Thanksgiving Day, one of America's significant cultural celebrations takes place every November.

How is the day spent?

The day is spent with family or friends to remember each one's contribution and celebrate a feeling of thankfulness. Like in most festivals, food takes centerstage, and various delicacies fill the dinner table. However, the event does not have any religious significance. Instead, it is considered a cultural festival where family and food (and football, for some) are the mainstays of celebrating the festival day.

​Market trading guide: Zydus Lifesciences among 4 stock recommendations for Monday​
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During the holiday-shortened week, Nifty ended at close to 17,800 points while Nifty Bank saw some pressure on the final session of the week and ended lower by 0.75%. “The coming week might conclude a road map for the markets till Dec 2022 since we have a mega event of the US Fed. In addition; RBI has scheduled additional MPC meeting on Nov 03, 2022,” said Mehul Kothari - AVP- Technical Research, Anand Rathi Shares & Stock Brokers.



Here are stock 4 recommendations for Monday:
During the holiday-shortened week, Nifty ended at close to 17,800 points while Nifty Bank saw some pressure on the final session of the week and ended lower by 0.75%. “The coming week might conclude ..
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Buy near Rs 610
Target: Rs 645
Stop loss: Rs 590

On the daily scale; we are witnessing a trend line breakout above Rs 605. This breakout also resembles a bullish inverse head and shoulder pattern.

(Mehul Kothari - AVP- Technical Research, Anand Rathi Shares & Stock Brokers)

Buy near Rs 610Target: Rs 645Stop loss: Rs 590On the daily scale; we are witnessing a trend line breakout above Rs 605. This breakout also resembles a bullish inverse head and shoulder pattern.(Mehu..
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Buy near Rs 236
Target: Rs 260
Stop loss: Rs 224

For the last three months; the stock has been trading in a band of Rs 238 - 208. During the last session, it confirmed a range breakout above Rs 238 along with decent volumes.

(Mehul Kothari - AVP- Technical Research, Anand Rathi Shares & Stock Brokers)


Buy near Rs 236Target: Rs 260Stop loss: Rs 224For the last three months; the stock has been trading in a band of Rs 238 - 208. During the last session, it confirmed a range breakout above Rs 238 alon..
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Buying range: Rs 426-432
Target price: Rs 470
Stop loss: Rs 408

Zydus Lifesciences found support around the Rs 319 levels in May, which also roughly coincides with previous intermediate lows of the stock. The stock has subsequently risen and made higher bottoms in the last few months.

In the process, the stock has broken out of a tight range. Momentum readings like the 14-week RSI, too, are in rising mode and not overbought, which is encouraging.

With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks.

(Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities)
Buying range: Rs 426-432Target price: Rs 470Stop loss: Rs 408Zydus Lifesciences found support around the Rs 319 levels in May, which also roughly coincides with previous intermediate lows of the stoc..
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Selling range-Rs 3,540-3,550 levels.
Downside target: Rs 3,400
Stop loss- Rs 3,640

Divis Lab is in a short-term downtrend as it has been making lower tops and lower bottoms for the last few weeks. On Friday, the stock broke the recent support of Rs 3,562, indicating the downtrend looks set to continue.

Technical indicators are giving negative signals as the stock is now trading below the 20-day and 50-day SMA. Momentum readings like the 14-day RSI are in decline mode, which implies potential for more downsides.

We therefore expect the stock to correct further in the coming sessions.

(Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Selling range-Rs 3,540-3,550 levels.Downside target: Rs 3,400Stop loss- Rs 3,640Divis Lab is in a short-term downtrend as it has been making lower tops and lower bottoms for the last few weeks. On Fr..
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Thanksgiving Day History

The first Thanksgiving happened in America in 1619 in Virginia, when the pilgrims, or the colonist visitors as they were called, shared food with the original natives of the land, the Wampanoag Indians. It became an annual feast subsequently in honour of the support the natives gave to the colonists in the cultivation of crops. US Presidents of the time supported the event. In 1863, President Abraham Lincoln decided to have a national Thanksgiving Day to be celebrated across America in November.

FAQs:

  1. Is there a special Thanksgiving dinner?
    Like in most countries, Americans also celebrate significant occasions with exceptional food. For example, Thanksgiving Day dinners include a turkey item in most households. Pumpkin pie and marshmallow-topped yams are other traditional favorites.
  2. Is Thanksgiving an event celebrated only in America?
    Neighbouring country Canada also has a Thanksgiving Day, but unlike in the US, the Day comes in October (second Monday). Liberia is also known to celebrate Thanksgiving.
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