Mumbai: The upcoming Union Budget on February 1 is likely to dictate market direction in the January series. D-Street is concerned about whether the government will breach the fiscal deficit target in the Budget and will also watch out for measures to boost sagging economic growth.

The December series saw the Nifty ending down 0.2 per cent on an expiry-to-expiry basis and the Sensex gained 0.1 per cent during the same period .........................ET