If you know the exact axis you want, then
pylab.ylim([0,1000])
works as answered previously. But if you want a more flexible axis to fit your exact data, as I did when I found this question, then set axis limit to be the length of your dataset. If your dataset is fft
as in the question, then add this after your plot command:
length = (len(fft))
pylab.ylim([0,length])