By theindianinvestor 
Friday, 31st January 2025
time : 8:30 am ist
insights :
1. Yesterday, Nifty gained 86 points and closed at 23,249.
2. After the market opened, Nifty gained 170 points, then at some point fell by 150 points, and in the second half gained 110 points. Markets were highly volatile.
3. Interestingly, VIX fell nearly 7% yesterday.
4. VIX fell by 4% in the second half when the market gained 110 points, indicating that markets might be stable around the 23,200 level, leading to a bullish sentiment.
5. For today and tomorrow, we may not follow global cues.
6. The budget will dominate the markets.
7. FII’s sold more than Rs. 4,500 crores in the cash market yesterday.
8. Their net shorts now stand at 89% vs. 75% earlier because the contract size for February is 75.
9. US markets ended higher.
10. Asian markets are trading in green.
11. GIFT Nifty is almost flat.
12. Nifty support can be yesterday’s low, around 23,150. Resistance can be around 23,300.
13. All eyes are on the budget. Let us wait and watch.