By theindianinvestor 
Saturday, 1st Feb 2025
Time : 8:30 AM IST
insights :
1. Yesterday, Nifty gained 259 points and closed at 23,508.
2. After the Prime Minister’s speech, Nifty rallied nearly 150 points on positive expectations of the budget.
3. VIX crashed nearly 7% yesterday.
4. In the last two days, VIX has come down by 14%.
5. Yesterday, FII’s sold for Rs 1,189 crores in the cash market.
6. FII’s are heavily short, standing at 88% ahead of the budget. Any positive news could trigger a strong rally.
7. US markets ended lower yesterday.
8. Holiday for Asian markets today.
9. GIFT Nifty is indicating a 100-point gap-down opening.
10. Monthly auto sales data and manufacturing PMI data will be released today.
11. However, the market may not consider these numbers.
12. The budget is the biggest event today.
13. Any good news regarding LTCG, personal income tax cuts, etc., could trigger a short-covering rally.
14. Expect high volatility.
15. Markets may not follow support and resistance levels today ahead of such a big event.
16. Let us hope for the best.