Based on many recommendations I have arrived in Canacona for stay of two days. One day have passed and we have nothing to do on second day. Palolem doesn't have any of the water sports like banana ride, parasailing. Please suggest a thing to do on the second day.
There is a dedicated Goa travel guide written by Arabella which covers a lot of South Goa and things that you can do there. Please have a read, I am sure you will find it useful.