According to one myth, Lord Krishna conquered evil King Naga Kalia and put an end to the evil deeds of an evil snake on Naga Panchami.
According to another mythology, a Tantric King forced the Nagas to give back the rains that they took away from the lands. The Nagas gave in to the king's power, but in recognition of their power to control rains, the king established the Naga Panchami festival.
Negative influences such as evil eye can be warded off. You can acknowledge the power of the snakes, Rahu and Ketu are the Snake Planets, by joining in performing a simple abishekam to both of these Moon Nodes. It is a great supplement to those who took part in the Naga Dosha or Kala Sarpa Yoga rituals and those in need of a lift out of negativity.