The major event which was in wait for quite some time in the shape of Fed Rate hike by US is over with no major effect on the market ; no doubt, it has led to US dollar being strong. One can look at selected ITs and Pharma stocks to be contesting for higher levels since they are by and large effected by forex.
With this, FIIs presence in the Asian market may dry up (to some extent) though Indian market may not be effected in comparison to other Emerging Asian countries. It is expected though that return wise, we may remain in the lower band.
All eyes are now on Xmas development (to some extent - may not be a major worry) and Q3 India Inc results which shall start coming in during first week of Jan 2017. As such - one can plan giving modest exposure to investment.