By theindianinvestor 
Friday, 24th January 2025
Time : 8:15 AM IST
Insights :
24 January 2025
1)Nifty gained 50 points and closed at 23205
2)broader markets have outperformed nifty yesterday , smallcap100 index was up by 1.12% and midcap100 index was up by 1.86%
3)the only sector which supported nifty was IT , which was up by 1.79% due to higher closing of Nasdaq and positive comments on AI by Donald Trump
4)fii’s are almost selling half a billion dollars on day to day basis , yesterday they have sold more than Rs 5000 crores in cash market, But the interesting thing to look is the index future positions, their shorts now stand at 81% vs 84% few days before ,
5)looks like they are covering their shorts before budget, yesterday they have covered 17.8k shorts and added 4k longs
6)IndiaVix fell by 4% in the last 3 sessions and currently trading at 16.7
7)US markets ended higher as Trump calls for cuts in interest rates and oil prices
8)Asian markets are trading higher
9)GIFT nifty indicating a 50 point gap up opening
10)dollar index is getting stable , trading at 108.1 and US 10 yr bond yields are again moving higher from its recent range ,trading at 4.63%
11)Nifty likely to form a red candle straight for the fourth month
12)That will make budget more interesting
13)Decisive direction will be set only after budget week
14)today we have Bank of Japan’s policy decision , a rate hike of 25 bps is expected
15)Tomorrow we have icici bank results , which may impact our markets on Monday
15)Nifty support is around 23150 and resistance is around 23400.