Welcome everyone to this week's video update. Today is Saturday December 24th, Christmas Eve, so Merry Christmas and Happy Holidays to everybody. Let's go ahead and jump in and go through the trades that we made last week. If we start with Monday, the first trade we made was we closed out at Strangle and EWW. So this is a trade that we head on for 20 days. We were able to take it off for a nice profit of around 50% of max profit. Let's go to the platform and take a look at EWW. Let's see what happened there. So we've got about 20 days ago, you can see how implied volatility was extremely high because of uncertainty around the election in Mexico and after everything came out. As typically is, fear was overstated in the market, implied volatility contracted, giving us the ability to take off that trade for a nice profit. So if we look at the next trade we did is we put on a calendar spread in the NASDAQ in the triple Q's. So if we go to the Q's, you can see implied volatility extremely low. Remember, we put on calendar spreads to take advantage of an increase in implied volatility. So we want to put on calendar spreads when implied volatility is under 10 and in fact when I put this on implied volatility IV rank was essentially at zero. So if we take a look at where we're at in that trade, click off that here. So we're still very centered. We're in a profit. We want to take these off for about 20 to 25% of the debit paid or the risk that we take. So risk on this one about $485. So we're looking to take this off for about $85 to $100 profit. So we're at about $39 right now. So we'll continue to wait on that one. We sold an iron condor in GLD and this was an opening slash adjusting trade. So we're collecting more credit, widening our break even. So if we take a look at GLD, this is the iron condor that we just put on the one I just mentioned. We do have, we still have another GLD iron condor on. So if we click on that trade, you can see it's moved down on us. So we're right here still in the profit, but I wanted to layer on another iron condor. So we're simply widening out our break evens. We're bringing it out here. So we've got two separate GLD iron condors on and implied volatility for GLD still around 36. Not bad. We had a good contraction. I was hoping to take that off. If we would have gotten a little bit of an up-moving GLD, we would have been able to take our one iron condor off, but now we've got two on. So hoping to keep that credit on both of those positions. So we'll see what happens next week. Need a little bit of an up-move and gold. Next trade was a closing trade in GDX. So this is one where Ivy spiked up. We put on a strangle and then it contracted and we were able to take this off for about a 30% of max profit in just five days. So let's take a look at GDX. If we see what happened to implied volatility, it was way up here. When we put that on, we got a quick contraction price stayed in a very narrow range. It's not normal that we can take these trades off in such a quick amount of time, but when you get those opportunities, those are excellent trades to take profits on. So let's go to the next trade. By the way, you see all these unsubscribed test posts. Some of you may have gotten multiple kind of test text messages and emails over the past weekend. And so I apologize for that. My developer was doing some testing on our unsubscribe issue. And so I apologize for that if you got multiple text test messages. So we got that corrected. So all is good there. Let's see. So if we go to the next trade, it was a closing trade on XLV. So the Ivy percentiles contracted down all the way down to four gave us a good opportunity to take that off for around 50% of max profit. So if we take a look at XLV, you can see it. It was up here kind of when we when you entered the trade, price moved up and then down a little bit. Volatility contracted gave us that chance to take that that nice profit in XLV. And we don't have a current position in XLV right now. So that one is completely closed out. SLV, the Silver ETF. Ivy was currently at 71 when we took when we put this on. So great time to be putting on premium selling strategies. And we did it. We did a straddle. Now one of the reasons we did a straddle over a strangle or an iron condor is because SLV is a very low priced stock. So if you see, you know, look at the amount of premium that you're looking at the pricing of these options. So you've got to get really close to the money to get any type of decent credit. So on something that's like a $14, $15 stock, really the only strategy that you can do is like a straddle or a very tight strangle to collect enough credit to make it worth your while. So you can see implied volatility is contracted a little bit. We're in the profit here on straddles. Remember, we want to take these off for about a 20 to 25% of max profit. So give this a little bit more time. If we get a little bit more contraction in IV, we'll take that one off for a profit next week. XLU, closing trade in XLU. So this one, we made a quick 30% of max profit in about eight days. So remember, when you're doing these one standard deviation strangles, just like I teach in the course, if you, you know, ultimately we want to get 50% of max profit, but if you get, you know, 30% of max profit in less than 10 days, in this case we got it in eight days, you got to take those profits and run. Take those profits, redeploy the capital. Now we still have another very tight strangle that had been adjusted at 46 and 47. So let's take a look at that. So XLU, so here's our, here's our previous adjusted strangle. And so you can see we're right up here against the break even. So if it keeps moving up to the upside, we will both roll our puts up and collect more credit. And depending on what implied volatility does next week, if we, if we stay in this area or spike up a little bit, I'd be looking to layer on another position to collect more credit, widen out these break evens and manage another position in XLU. So we'll wait to see what happens and obviously send out alerts as they're needed for XLU. Natural gas. So in this one, we opened another strangle, added more credit, implied volatility, still very high at 73. So now we've got two positions on in natural gas. So we've got our original position, which was an adjusted strangle that we rolled from January to February last week. So we're still fairly centered, just looking for a contraction in IV and price to kind of stay in this range. And we'll, we'll continue to monitor that. But because of the high IV, we wanted to add another position on. And so we added another strangle. We can see we're in good profit here, up about $275. Not enough to take it off yet. We want some more profit in that one. So we'll continue to wait and manage natural gas. And then on, on the 22nd, we put on an iron condor in Lulu, which is Lulu lemon. So for all you men out there with your yoga pants, this one's for you. We IV was currently at 63. So just taking advantage of that high IV. Now, one question I got from several members was, Hey, you know, Lulu is not on the watch list for iron condors. Why did you decide to put this trade on? And the reason is from time to time, different symbols will become more liquid, there'll be more activity. So if you look at Lulu and you go to the the right kind of the at the money strikes, I mean, look how tight these these bids. And in fact, when I put this on, the spreads were only one or two cents. You can see that about four cents. Now, when I put that on, the spreads were extremely tight. There's a lot of liquidity. You can see the open interest on both the calls and the puts. And so if that's the case, I mean, that's that's what we're looking for. So if this continues to stay as liquid as it is right now, I'll probably add this to my permanent watch list. But in this case, it ends up being it's a great trading vehicle right now because of all the activity. And so we're still very centered, a little bit in the profit pretty much at a break even at this point. So we'll continue to wait. You can see, you know, after earnings implied volatility got crushed a little bit, but look, it's still at 64. So it's still staying high enough to give us the opportunity to where the options are expensive enough to sell some premium in Lulu. So there's obviously some uncertainty around Lulu, which obviously was what causes those options to be more expensive. So we'll continue to monitor that. And that's why I, you know, in this kind of situation, I wouldn't put on an undefined risk. I wouldn't put on a strangle or a straddle. I'm going to put on an iron condor, which has this defined risk. You know, I'll put on strangles and straddles all day long in commodities and futures and indexes and ETFs, you know, because they don't really have much of a chance of going to zero where a stock, you know, if there's something crazy happens, they can, you know, a stock can go to zero. So we want to define that risk. And so that's what that's the way I like to trade those to find your risk on stocks. And you can use a better probability of success, like a strangle or a straddle on ETFs and futures. So let's see, going on to the next trade in bonds had a nice trade in bonds. We were actually in this for 24 days, but we're able to finally wait it off and take it off for a 50 percent of max profit. So if we look to see what happened in IV and bonds and remember the bonds are not going to give you, ZB is not going to give you an accurate reading on the implied volatility. So you've got to use the ETF TLT. And so as you can see, I mean, bonds have just been grinding lower and lower and lower. So we've been in the lower range of our strangle for the last 24 days straight, but we just got a tiny pop up and gave us a chance to take that off for 50 percent of max profit. So it's just a little bit of a little bit of a waiting game, but we ended up benefiting from doing so. Then in IWM, we closed out our iron condor for a nice profit in 10 days. You know, this was again, part of one of our adjusting trades. Glass cycle, we had a ended up having an overall, we had a losing position in IWM, but again, you keep putting these trades on, collecting more credit, taking off those trades for profit, and you'll get back to that, get back to that point. So IV is currently at 14, so I didn't want to put on any more trades in IWM. If we get a pop in IV next week, we'll look to add a position in IWM. That's one of the symbols that we almost always want to have a position on because it's so liquid, so easy to get in and out of in such a good trading vehicle. And then TLT, we had an opening trade, so we sold an iron condor out in the FEB cycle. IV is currently at 54, so good time to sell some premium. So if we took a look at our TLT, so here's the position. So here's our January position. We have an iron condor and it's got enough profit that we want to take this off. I was trying to get filled on this trade both Thursday and Friday, but just did not get filled at the price that I wanted. So we give it a couple extra days of theta decay over the weekend. And hopefully, unless bonds make some crazy move over the weekend, we'll take this off for a nice profit on Monday. And because the IV is over 50, we went ahead and put on another iron condor in the February cycle. And as you can see, we just put that on, so we're centered, and so we'll wait to see what happens in TLT for that one. Next trade, XLF, closing trade. So we took that off for a nice profit in just 11 days, about a 30%, about 20-25% of max profit. Remember, this is a straddle, so we take it off for 20-25% of max profit. Now, we've got another straddle that we are still holding in XLF. So let's take a look at that. So we have this 22 straddle. We also had a 24 straddle that was centered right around where price is. Price stayed right there, so we took that off for a profit, so we're still holding this 22. Now, what we'll do next week is we will either, well, probably both, we'll roll the puts up closer to price to collect more credit. And if we get a pop in IV, I'd look to put on another trade, so another straddle or another strangle more centered around price to collect more credit and just continue to work this position into total profit. Let's see, so, and then the last trade we made was in XRT. So we sold a strangle in XRT IV at 67, so a good opportunity to sell premium in XRT. So you can see it's still very centered and we'll continue to monitor and manage that. So, I mean, look at this spike in IV. I mean, giving us the opportunity to put that trade on it in XRT. So what caused that? Well, XRT is the retail ETF. Well, what's going on in retail right now? There's uncertainty because it's the holiday season and when they come in and report the numbers on holiday sales, that's what's creating this uncertainty. You know, look, leading up to the holidays. Look what happened. IV's been fairly high. And then once the numbers come out, most likely implied volatility will contract, giving us a chance to take profit, assuming there's not too huge of a move in the overall underlying ETF. So just giving you a little background insight on kind of the philosophy of implied volatility and why it spikes and contracts and so forth. So we'll keep an eye on that. So let's go, let's take a look at some of our other positions in oil, the C, 4 slash CL. We've got this adjusted strangle. We've adjusted twice. We ended up having to go inverted, meaning the puts are now up here at 52. They're higher than our calls because oil has continued to move higher and higher and higher. So I want to, I want to put on another strangle more centered around price to help manage and widen out these break evens. The problem is, look at where IV rank and IV percentile are. They're at zero and one. So extremely low. I'm not going to put on another premium selling strategy when implied volatility is that low. If we get a little bit of a pop, even up to 20, I would look to add another adjusting position onto this one, but IV rank is just too low to do it right now. So we'll continue to monitor and manage this. If price continues to move up, we'll continue to roll our puts, continue to roll our untested side up, collect more credit, and if we get a move down in oil back into our range, we'll continue to just wait and collect that theta. I already went over natural gas, bonds. We've got a iron condor still in soybeans. So if we take a look at price has moved down in soybeans, so it hasn't crossed our break even yet, but it's pretty close. Most of the juice has been sucked out of that call side. As you can see, there's really nothing else to make. That call side is not really helping us. It's at full profit. So next week, I will look, I'll be looking to get out of that call side and potentially add another iron condor in soybeans to widen out those break evens and collect more credit. EWW, I already went over that one. FXC, this is the Euro. We've got a strangle in here. You can see this is one of the few symbols out there that's got really high implied volatility, a lot of uncertainty around the currencies right now. So giving us a good opportunity to sell premium. So we're in the profit there, not enough to take it off yet. FXY, this is a strangle that we had adjusted and adjusted to the point where now it's essentially a straddle where both strikes are at 83. So we'll continue to wait and let that theta decay. I was looking to put on another strangle to kind of widen out those break evens for FXY, but IV was just kind of too low. Now we've got to spike up to 38. That's good enough to adjust with. If it stays around that area goes a little bit higher next week. We'll add on another position in FXY. GDX went over that one. We took off a profitable position. We still got the 21-22 adjusted strangle in here. We're in the profit, but we need a little bit of a move up to take that one off. GDX, to put on another position on here, you see implied volatility. It's just too low, so I'm not interested in doing that unless we get a spike in implied volatility. GLD, we went over Goldman Sachs, those are money flow trades. So let's take a look. So we've still got this iron condor in Goldman Sachs that we've had on for a couple weeks. We put that on when implied volatility was high. Price did move up on us, and then it stayed pretty stagnant. We've got that contraction, so we simply need a little bit more contraction in implied volatility and or a potential small move down to take that one off for a profit. Let's see QQQ. We went over to that one with SLV. We've got a straddle there. I mentioned that one. SPX, we've got this double calendar. So originally we had on this calendar price moved up past our break even. So as I teach in my calendar course, you add another calendar to the side that the price is moving. So I added another calendar here. So now price is still in our range. We've got this double calendar. We need a move down and an increase in implied volatility to make a profit in SPX. SPY, we're in good profit here in our iron condor. We simply need a little bit of a move down, a little bit of a contraction in an IV, and we'll take this one off for about a 40% of max profit. Hopefully do that early next week. TLT, already went over to that one. XLF, already went over to that one. XLU went over to that one. XLV, nothing there. And XRT, we've gone over that. So hope that helps. If you have any questions, please post them in the forum on the website and we'll be looking forward to making some more good trades next week. Happy trading and have a great holiday. Talk to you next week.


My friends, my name is Arpata Karwa and welcome to my channel. I'm making this video specifically for students who are preparing for UGC net English literature. Students who prepare for this particular exam, I'm pretty sure would go through the past year papers and when they go through past year papers, they actually find certain questions that are based on chronology. So you would find questions like the one displayed on the screen where there is a set of works and you have to tell which is the correct order of publication. Now when you look at these questions, you end up wondering that are you supposed to learn 4-5,000 works publication dates? There are more than 4,000 important works in English literature and if you have to solve questions like these, you should be able to learn the dates of these works and at times they also ask questions based on the chronology of authors. Now those questions make you wonder that are you supposed to learn the birth and the death date of all these important and great writers and if that is the case, it is going to be a herculean dusk because it is not easy to remember and mug up these dates and keep them in your head. So I am going to burst this myth of all those who think that they can only clear a net exam if they know the dates of all the important works and the birth and the death dates of writers. I am going to instead tell you a very simple strategy using which you can get these questions right. So are you ready? Let's get started. Before I talk about my super technique that can help you get the chronology based questions right, let me tell you what is the issue behind learning and mugging up these dates. So if you are trying to achieve this goal of mugging up dates of 5,000 works, let me tell you where you are going wrong. So in literature if you look at the most important works, there are more than 3,000 works which are very important and they can ask the publication date of any of these 3,000 writers in the chronology based questions. So the problem is that it is practically impossible for anybody to get all these right in your head because what happens is that you might remember them for a day but tomorrow when you look at the works again, you will get confused and all the publication dates are going to jumble up in your head. Let me give you a simple example. So there are these 4 prominent works which were published in 1920s displayed on screen. Now you have the publication date displayed alongside. Just look at this table for a while and now tomorrow when you sit down to study, just try to recall these 4 works and the publication date and just cross check by watching this video again and see if you still remember the publication date till tomorrow correctly because mostly what would happen is that you will remember the 4 works but the publication dates are going to get swapped. So they all will get jumbled up in your head and you will end up making mistakes. Another important issue that you might see with this mugging up technique is that it is a very tedious and time taking process and if you do the cost benefit analysis that how many hours you are putting to learn these dates and how many questions are coming on the day of the exam, you will find that this is not the right way because you might have to spend around 50 to 60 hours to learn these dates and remember them well but the questions that are asked generally in UGC net exam from these chronology is not more than 2 or 3. So for those 6, 8 marks you are putting an effort of 50 hours that's not justifiable at all. If you would have put this much hours in understanding literary theory and remembering the works of these literary theorists you would have got 15 questions right. Benefit analysis is not right in this particular case and that is the reason why I tell all my students who are enrolled in my online course every time that please don't try to mug up the birth and the death dates of writers and the publication date of the famous works. Now that we know why the mugging up technique doesn't work in this case let us look at a new approach. So what I generally tell my students to do is that when they enroll in my online course for UGC net English they get a module wise syllabus. So this list of module wise writers are available free of cost on my website arpathakarva.com you can go and check out the full syllabus and find this list free of cost. Now when you look at the module wise syllabus you will find that all these modules have different chapters and every chapter has got lessons. So let us take an example of British literature. British literature is module one of my online course. Now in module one you have got chapters which are arranged chronologically. So all the ages of English literature forms one chapter each. So for example we begin from old English literature or Anglo-Saxon literature all the way down to the post-modern literature and all these chapters are arranged chronologically and within each chapter you have the writers who were writing during that particular era and all those writers are also arranged chronologically as per the birth date. So for example if you look at romantic literature which is a chapter in British literature module you will find that you have got a list of writers then just after romantic literature you have got Victorian literature then you have modern then you have post-modern. So everything is arranged chronologically. I ask my students to make notes in this order as well. So when they listen to my lectures they are asked to make notes in the similar fashion. Now within each writer when you listen to my lecture on a writer you will find that I am talking about the works of that writer in the chronological order. For example if I am talking about Charles Dickens so all the novels of Charles Dickens are told in the lecture one by one as per the chronology. So the novels that he wrote first are going to be spoken first in the lecture and then gradually we move on to the novels that he wrote in the last days of his life. So that is the chronology that we follow. Now if you have a pictographic memory which 90% students have the benefit of this technique is that when you are revising your notes you will find that on top of a particular page you have Charles Dickens biography written then you have the first work then towards the bottom of the page you have second work then on the right hand side of the page you have the third work then fourth work and then fifth work and this is how you are going to learn the writers and when you are going to sit on the day of the exam to attempt these questions you will actually have the picture of these notes in your head. So you will know that okay so here I saw that we were talking about Pickwick papers and on the left hand side there was Oliver Twist and just below Oliver Twist there was Hard Times so okay so Oliver Twist was written before Hard Times. This is how you will remember the page of your notes if you have revised them thoroughly because in the day of in the exam paper generally there are two types of chronology questions. One question type is when they are going to take four writers from four different eras and give you four books of these writers for example they give you a play by Shakespeare then they give you a novel by Charles Dickens then they give you a novel by Virginia Wolf and they give you a novel by a romantic writer for example Jane Austen so Pride and Prejudice. So they give you novels and dramas from four different era now if you have gone through my online course in that order you will find out that okay the first is from Elizabethan page to that is going to come first then is from the romantic then is from the Victorian and then is from the modern so you know the timeline even if you have not remembered the publication date. Now the second type of questions that will come in the paper is when they give you four works of the same writer okay for example they give you four novels by Jane Austen and they tell you to arrange them chronologically. Now if you have written notes in that particular fashion as displayed on screen you will find out that okay the first section of the notes talks about the first work then the second work then the third work then the fourth work so if you remember the picture of that notebook in front of your eyes on the day of the exam you will easily be able to tell that okay this was the first work this the second work this was the third and this was the fourth work so you will arrange them chronologically even when you don't know the publication date of a single work. Now this is a technique where you don't have to put any extra effort you are learning the works of Jane Austen earlier also and even when you are using this technique you are learning the works of Jane Austen the only difference is that when you are making notes you are making it in the similar fashion rather than talking about pride and prejudice first and you know sense and sensibility later you actually make notes in the fashion where the first work of Jane Austen is noted first and then the second work of Jane Austen is noted so this is how you will very simply be able to attempt both kind of chronology based questions without putting any extra effort so this is called smart work technique with that note I come to an end there are many such more videos which are lined up in my timeline that I would be uploading very soon on this channel where I'm going to burst other myths that you might have in your mind in regards to UGC net exam preparation if you have any other questions like these please put that in the comments below I'm going to definitely make a video on these questions as well with that note I would like to take your leave that's it for this video lecture we'll meet you very soon in the next video lecture till the time we meet next happy learning keep loving literature and stay tuned to arpitakarwa.com


Welcome. I welcome you all to this lecture in the course, Samasa in Panimian Grammar 2. As is our practice, we begin our lecture with the recitation of the Mangala Charana. In this course, we are focused on the avyayi bhava samasa, the bhavriya samasa, the bhavriya samasa, the bhavriya samasa. In this course, we are focused on the avyayi bhava samasa, the bhavrihi samasa, and the dvandva samasa. Right now, we are studying the avyayi bhava samasa. Avyayi bhava samasa is an extremely important type of samasa in Sanskrit. And the structure of this samasa can be represented in the form of a simple equation mentioned on this particular slide. If you have X and Y, both independent entities, separate entities in terms of word form as well as meaning as well as accent, the speaker of Sanskrit decides to merge them and generates the compounded entity called XY. Now, the input was two units, independent and separate, yet interrelated. Output is one unit which is made up of the input units. However, the output is related to the input. It still works as a function as one unit so that when this output is used in the sentence, it will be used as one unit. Now, to show the interrelation of the constituents with the generated output, we have used the bold characters and we have made X as bold, which indicates that when this XY is used in the sentence, X acts as its head in terms of the word form as well as the meaning also. This samasa is called avyai bhava and invariably X is an avyaiya and so avyai bhava samasa is also termed as an avyaiya by the sutra avyai bhavascha. This is how avyaiya determines the overall formal nature of XY. And also the meaning of X which is an avyaiya which plays an important role in determining the function of XY as one unit. These are some of the features of the avyai bhava samasa. In the ashtadhyayi, the avyai bhava samasa is treated in various sections. The samasa vidhayaka sutra, namely the compound prescribing sutras, they are stated in 2.1 specifically from 2.1.5 onwards up to 2.1.21. And 2.1.21 is anyapadharthecha saudnyayam. This is a small section of rules which prescribes the conditions for an avyaiya bhava samasa to take place. Incidentally, 2.1.22 is tattvarushaha and the tattvarushasa samasa is prescribed from 2.1.22 onwards, which we have already dealt with in the first course on samasa. Now from <IP_ADDRESS>.7 up to <IP_ADDRESS>.2, this is another small section in which the samasanta pratyayaya is stated. So these are the sutras stating or prescribing the samasanta pratyayaya. So they are called samasanta pratyayaya vidhayaka sutra. And then there are some sutras which talk about the swara of the avyai bhava samasa, for example <IP_ADDRESS>. Right now we are studying the samasa vidhayaka sutras stated in 2.1. We have already studied some sutras earlier starting with avyai bhava samasa and avyayam vidhakti etc. And now we are focused on 2.1.13 which is aang maryadabhividhyo ho. There are two padas in the sutra, aang as well as maryadabhividhyo ho. Aang is 1 slash 1 of aang. So this prathamavivakti ensures that this word aang gets the term upasarichana and then by the sutra upasarichana purvam, this term aang occupies the initial position in the samasa. The second pada in the sutra is maryadabhividhyo ho. This is 7 slash 2. It means in the sense of maryada and avividhi. Now both maryada and avividhi denote boundaries. There are different subtypes of boundaries with some difference as far as the shade of the meaning is concerned which we shall see in a while. And this maryada as well as avividhi is stated to be the meaning of aang. So aang denotes these two meanings. Aang also denotes some other meanings but when only these two are stated aang as far as this sutra is concerned gets compounded. So the meaning maryada and avividhi acts as the semantic condition for this avivavasamasa with aang which is an avivaya to take place. So what is maryada? Maryada is a boundary but what you mention is not included as boundary. So it is a boundary without tena vinah. For example we may say that Bangladesh is the eastern boundary of India and Bangladesh is obviously not India. So tena vinah and avividhi is a boundary which is within. So tena sahar in the same context we can say that the west Bengal is an eastern boundary state of India. Now west Bengal is part of India and it is part of the eastern India. It is also on the boundary but it is part of India. So when we say avividhi we are referring to a boundary which is part of it. So probably we are referring to west Bengal which is part of India and when we intend to denote the meaning maryada tena vinah we say like Bangladesh is the eastern boundary of India. These are the concepts of maryada and avividhi. This is an explanation, nuanced explanation of the concept of boundary. Now there are some words which are continued in this sutra from the previous one. Avvayam is continued from 216. Sahasupa two words are continued from 214. Samasaha is continued from 213. Avvayibhava is continued from 215. Samarthapalavidhi is continued from 211. Vibhasha is continued from 211 and Panchamya is continued from 2112. Having put all these words and their meanings together the meaning of the sutra emerges in the following manner. An avvaya subanta aang which is a actually in the sense of maryada and avividhi is compounded with another semantically related subanta ending in panchami optionally and the resultant samasara is called avvayibhava. I repeat an avvaya subanta avvayamsup aang and the word aang is taken from the sutra itself and aang means ah the preverb or upasaraga ah. Just as you have it in gachchati and agachchati this ah is the aang. In the sense of maryada and avividhi maryada avividhyoho is compounded samashyate with another semantically related subanta samarthena subantena sahar ending in panchami panchamya optionally vibhasha and the resultant samasara samasaha is called avvayibhava avvayibhava. Now in this case we must note that there are these following two sutras which also play an important role in the understanding of the meaning of 2113 and they are 2310 and 1487 together. The application of these two sutras forms a precursor forms forms a base for the application of 2113. Now what does 2310 say panchami apang parivihi our focus is on aang. So this sutra says that the fifth triplet that is panchami vibhakti is to be added after the words associated with upper aang and pari. These are the three preverbs or upasargas and then they assume the status of karma pravachaniya and since and once they become karma pravachaniya 2310 applies and adds panchami vibhakti with the word associated with upper aang and pari. Now the sutra which states the karma pravachaniya saudhnya to aang is the following 1487 aang maryadabhividhyoho. Now this sutra says that the word aang is termed karma pravachaniya when the sense of boundary is denoted. So we have a following example. So when the meaning to be conveyed is till patali putra with patali putra excluding something existed and as we shall see our patali putram vrstodevaha that's the example. What it means is it rained till patali putra and patali putra is not included that means it didn't rain in patali putra. So patali putra is excluded but it still acts as a boundary. So this is an example where aang is used in the sense of maryadabh. So we have a patali putrat as the laukika vigraha and then the a laukika vigraha is a plus su plus patali putra plus nasi.  So su and nasi are deleted.  Now this avyai bhava samasa is an avyaiya and now we add the suffix su after it. So we have a patali putra plus su since a patali putra is an avyai bhava samasa it is an avyaiya. And therefore this su should be deleted by the sutra avyaiyadabh supaha. But since a patali putra ends in short a, we have an exception that we have already studied. Now avyai bhava atom tvavanchamyaha. This sutra says that if an avyai bhava samasa ends in short a, then the suffix added after it is not deleted. Rather it is substituted by am. So we have a patali putra plus am and then the sandhi takes place and we get the form a patali putra. And we use it in the sentence in the following manner. We say a patali putra bristodevaha. A patali putra bristodevaha. It rained till patali putra with patali putra excluding. So it didn't rain in patali putra. But patali putra forms the boundary of a region in which the rainfall happened. So in the sense of maryada, am is compounded here. Now let us look at the example of abhivivi. When the meaning to be conveyed is till the boys, the laukika vigraha which conveys this sense is akumare bhaha. So we have a sentence akumaram yashaha paninehe. The fame of panini has reached till the boys and including these boys. Now here is the sense of abhivivi, an expression which denotes the border with inclusion. We have akumare bhaha as the laukika vigraha. And then this is converted into an laukika vigraha. A plus su plus kumara plus vyas. And so we have the samasa-saudnaya taking place. And then we have the pratibhadika-saudnaya taking place. And then the sutras upodhatup pratibhadika yaha applies which deletes both the sups. So we have a plus zero plus kumara plus zero.  Now after this akumara, when we use it in the sentence, we add the suffix su. So we have akumara plus su. And now akumara is an avyayi bhava samasa. So it becomes avyayya by the sutra avyayi bhavascha. And then when akumara plus su happens, this su should get deleted by avyayad absupaha. But there is an exception which says that if the avyayi bhava samasa ends in short a, then this su is substituted by am. And so we have akumara plus am as the next step. And then we join them together by sandhi. We get the output in the form of akumaram. And then we use it in the sentence like akumaram yashaha paninehe. The fame of panini has reached the boys, the boys including. That means each and every boy knows who panini is. So to take a recap, apatali putram ristodevaha. This is the sentence in which a denotes the sense of maryada. And there are some other examples like amukti samsaraha. Now this is a typical Vedantic examples which says samsara exists till you have not obtained liberation. So when you obtain liberation, you leave the samsara. Unless and until you leave the samsara, it is not possible to obtain liberation. So samsara is excluded from mukti. This is maryada. Now because this samasa is governed by the adhikara vibhasha, we also get the same sense even by the sentence. So amukti samsaraha is one expression. And amuktihe, where both of them are not compounded, they both are able to express the same meaning. Amukti samsaraha, amuktihe samsaraha. Similarly, akumaram yashaha paninehe. In this case, a denotes the sense of abhividhi. The other example of this is abalam haribhaktihe. Where haribhakti is so famous that it has also reached a bala, a child including, that means even a child who has not gained too much maturity, is also a devotee of haribhaktihe. This is what is stated by this particular sutra. Amukti samsaraha, amuktihe. And abalam and abaliphyaha. Now, let us move ahead and study 214. And the sutra is laksanaena abhipprati abhimukhe. There are three padas in the sutra, laksanaena, which is in tritiya ekabacana, abhipprati, which is in prathama dvivacana, and laksanaena and abhimukhe, and abhimukhe, this is in 7-1. So, laksanaena means 3-1 of laksana, and laksana means a mark or sign with a sovantha word, which indicates this particular meaning. Abhipprati is 1 slash 2 of abhipprati, the avyayas, abhi and prati, thus mentioned in a compounded form. And because abhipprati are mentioned in prathama dvivacati, it gets termed as upasarjanam, by the sutra prathama nirdeshtam samasa upasarjanam, and then it occupies the initial position of the samasa by the sutra upasarjanam urvam. We have another word abhimukhe, which is in 7-1, and what it means is in the sense of facing towards abhimukhasya, bhavaha, abhimukhyam. The words continued are avyayam from 2-1-6, sahasupa from 2-1-4, samasaha from 2-1-3, avyayi bhavaha from 2-1-5, samarthapadavidhi from 2-1-1, and vibhasha from 2-1-11. All this put together, we get the meaning of the sutra in the following manner. An avyaya subanta, abhi and prati, is compounded with another semantically related subanta, which indicates a mark or sign, and when the meaning facing towards is denoted optionally, and the resultant samasa is called avyayi bhava. I repeat, an avyaya subanta, avyayam subantam, abhi and prati, abhi prati, is compounded samasya with another semantically related subanta, samarthena subantena sahasamasya, which indicates a mark or sign, laksana bhuten or laksana inn, when the meaning facing towards abhimukhy is denoted. And this happens optionally, vibhasha, and the resultant samasa, samasaha, is called avyayi bhava, avyayi bhavaha. This is the meaning of 2-1-13. Let us now take an example. When the meaning to be conveyed is towards fire as a mark, that means something is happening around a place whose sign or mark is fire. Where there is fire, this is happening. So fire becomes a mark for somebody to explain the location of a particular thing. So we have agnim abhi as the laukika vigraha, and then we have abhi plus su plus agni plus am as the laukika vigraha. Then the samasa-saudnaya takes place, then the pratyavadiga-saudnaya takes place, then we apply the sutra 2471, so podhatup pratyavadika yoho, and we delete both the sups, abhi plus zero, plus agni plus zero, and then we delete the sups and bring together the purva-pada and the uttara-pada, that is abhi-agni, and apply the sandhirul and we get abhiyagni. Now this is a pratyavadika. We add the suffix su after it. So we have abhiyagni plus su, and here now avibhavad atom-pavanchenmyaha doesn't apply because this avibhavasamasa does not end in short a. Then by the sutra avyayad-apsupaha, the su gets deleted, and so we have just abhiyagni as the subanta form of abhiyagni. It is used in the sentence abhiyagni-shalabhapatanti. The moths are falling towards where fire is. So fire is the laksana, fire is the mark of the action of falling of these moths. Now we go to the next sutra. Now we go to the next example, which is the words fire as a mark, which is the same meaning, and the same meaning is expressed by the laukika-vigraha-agnim-prati. The laukika-vigraha is prati-plus-su because prati is an avyaya, and this prati is mentioned in prathama-vibhakti in this particular sutra. It occupies the initial position of this samasa. So we have prati-plus-su plus agni plus am, and then the samasa-saudhna takes place, then the pratimadika-saudhna takes place, then we apply supodhatup pratimadika-yohu, and then we get prati-plus-zero plus agni-plus-zero, and then finally we join them together and make the sandhi necessary and get the form pratyagni. When this pratyagni as an output pratimadika becomes part of the sentence, it takes the pratyaya-su. Pratyagni is an avyayi-bhava samasa, so it gets termed as avyayi-ya by the sutra avyayi-bhava-stha, and therefore the sous-effects added after pratyagni is deleted by avyayi-adap-supaha, and then we get the form pratyagni, and it is used in the sentence like pratyagni-shalabhava-tandhi. The moths are falling towards where fire is. So fire becomes the lakshana or the mark of the action of falling of moths. In both these examples, the question is, what is the mark of moths falling? What do they do and where do they fall? Yad uddhishahi gachchati tal lakshanam bhavati. So this mark in these two sentences is fire, and the other important fact is that the moths are also facing it. Agnim lakshikritya abhimukham patandhi. They still fly towards the fire. Now when we say sraganam pratigataha, he returned to sragana. Even though abhimukhya is intended and the word prati is used, the third condition, namely lakshana, is not fulfilled. So sragana is not the lakshana of the action of going. As the intended meaning is, he started to go to Mathura and due to the confusion in the directions, he returned to sragana. When that is the meaning, sragana is not the lakshana. So the compound does not take place in case of sragana and pratig. Now when we say yena agnis tenagataha, he went by the road where there is fire. Here fire is the mark of where he went. He is also facing the fire, but the words abhi and prati are not used in the sentence. And so there is no compounding. And so we have yena agnis tenagataha, the simple sentence intact. No change or no modification happens. Similarly, similarly when we say abhyanka gavaha, pratyanka gavaha, cows who are freshly marked or navang gavaha, cows are where the marks are put. But the words abhi and prati are also used, but there is no facing towards meaning intended. When you say abhyanka gavaha, cows are freshly marked. It doesn't mean that they are facing the village. They are facing something. So there is absence of the important condition stated in the sutra and therefore there is no compounding. Next, how we study how the processing of the avivavasamasa happens with remaining semantic conditions stated in the subsequent sutras. And we shall also study how this process continues to derive the final output in the form of a nominal root or pratipatika and how that output pratipatika behaves in a particular sentence. This is what we shall study next. These are the references. Ashtadhyayi, samarthandhika, vakya padikya, kashikavratthi, as well as samasaprakaranam. Invaya karna siddhanta kaumudi. Thank you very much.