The central bank's annual monetary policy review on Friday will be crucial for shares next week alongside key earnings of Hindustan Unilever, IDFC and Bharti Airtel.
A Reuters poll shows 37 of 42 economists expect the central bank to cut the repo rate by 25 basis points on May 3.
The Reserve Bank of India's (RBI) guidance on future policy stance will be key for direction in the near-term post the policy outcome due around 11 a.m. IST on Friday.
The Nifty is expected to move in a range of 5750-5950 ahead of the RBI policy, dealers said.
KEY EVENTS/FACTORS TO WATCH
Monday: Hindustan Unilever earnings
Tuesday: Infrastructure output data for March due around noon
Fiscal deficit data for March
Wednesday: Markets closed for Maharashtra Day holiday, IDFC earnings
Thursday: RBI to release macro-economic review at 1130 GMT, earnings of Bharti Airtel.
READ MORE ON Bharti Airtel
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See mild mkt pullback; like public sector banks: HDFC Sec