today stock pickAfter demonetization, things will take 2-3 months, to come on track. The impact of Demonetization could be estimated after seeing the decline in service PMI. Service sector plays an important role in GDP.
Currently, the market situation is not completely good, and further, the global events may also impact on it. The market trend will be decided by US Fed rates, Dollar index movement, INR trend and third quarter results. If Nifty is in 7900-8500 range then it can be a good indication. However, it is highly expected that Nifty can break down from 7900 due to global cues. Looking at the inflation moves, RBI may decide to cut interest rates. While it is completely expected the US Fed may increase rates up to 0.25%.

Intraday Stock Future call

SunPharma Expiry 29 Dec 2016 Sell below: 669.52 Targets: 663.39, 656.97, 650.58 Stop loss : 676.00.

Yes Bank Limited – YESBANK Expiry 29 Dec 2016 Buy above 1225.00 Targets: 1233.15, 1241.94, 1250.76 Stop loss : 1216.27.