By theindianinvestor 
Wednesday, 29th January 2025
Time : 7:45 AM IST
insights :
1. Yesterday, Nifty gained 128 points and closed at 22,957.
2. At one point in the afternoon, Nifty was up nearly 300 points, but around 2:30 PM, heavy selling occurred, causing Nifty to lose nearly 170 points in just 15 minutes.
3. BankNifty outperformed Nifty, rising by 1.6% due to liquidity measures taken by the RBI.
4. Even though Nifty 50 ended in green, Nifty Midcap 100 and Nifty Smallcap 100 closed in red by 0.5% and 1.8%, respectively, indicating a lack of strength in broader markets.
5. The RBI’s liquidity measures are raising expectations of a possible rate cut in February.
6. Yesterday , FII’s sold more than Rs 4,900 crores in the cash market.
7. In index futures, FII’s added 4.1K longs and covered 30K shorts; their short positions now stand at 75% vs. 77% earlier.
8. FII’s net shorts are down due to short covering along with rolling over shorts from January to February. Since February’s lot size is higher, the number of short contracts appears lower compared to January.
9. US markets ended higher due to strong performance in tech stocks, with Nasdaq up nearly 2%.
10. Today, we have the US Fed Outcome, no rate cut is expected. Additionally, Meta, Microsoft, and Tesla will announce earnings, which will impact our markets tomorrow.
11. The dollar index is trading at 107.9, and the US 10-year bond yield is at 4.53%, both in a consolidation phase.
12. Brent crude is trading at $77/bbl.
13. Asian markets are trading in green.
14. GIFT Nifty indicates a 50-point gap-up opening around the resistance level. However, sustaining above 23,000 is crucial for Nifty to show strength.
15. Nifty support is at 22,800, with resistance 1 at 23,000 and resistance 2 23,150-23,200.