Use chalk, white paint or yelo crayon for marking metal on the balancer. You can scribe a line on the dizzy housing and block to try and match up. Assuming they are in the right position. The rotor with the cap removed hopefully will be pointing at the #1 position , usually marked by the #1 on the dizzy cap. If it doesn't line up (within a 1/4") approx. then there may be the chance its been installed incorrectly or the timing chain is loose and has jumped position OR the balancer ring may have slipped.
I would first find out if the rotor lines up.
If the rotor does not line up, try pulling up on the dizzy to remove it.Buff off the housing (clean-up) while its up, then try to reinsert the dizzy housing in the same spot but rotating the rotor to slide into the #1 terminal position. It will take several tries because the camshaft gear in angeled, and causes the rotor or dist. shaft to rotate some as it slides in. Hopefully you can get it to line up this way first. If this works you may not need to buy a new dizzy at this point.
So, if the rotor lines up at 1, balancer is on TDC #1 cylinder has both valves closed, Then you need to try and see if it will fire. you can leave off the valve cover while it is running for now, but it will eventully get messy, at least we hope! That means its oiling properly.
You may want torig up a small gravity feed gas tank. this eliminate the need fr a fuel pump and assure you will have clean gas.
Let us know how its going. this part can get confusing, at least it does for me. So, hopefully I've given you some decent advice.