Fall just before budget is not new for Indian Indices. Have a look at this:

Pre Budget Fall in NIFTY-

Year 2020: 12450 to 11600

Year 2021: 14750 to 13600

Year 2022: 18350 to 17149 (Today's Close)

And everytime Nifty made Fresh High after budget.

Will History Repeat Itself ?

— R.K. (@ipo_mantra) January 24, 2022