 "Pre-market: Consolidation likely")
Also, Government bond yields are expected to soften this week on expectations of a repo rate cut in the mid-quarter review of monetary policy next month. This is because the index of industrial production (IIP) and the wholesale price index (WPI) inflation data came lower.
On the global front too, there may be some slugishness, as US stocks may take a breather after a seven-week winning streak as the quarterly earnings period draws to a close. The market also bumps into strong technical resistance.
Meanwhile, in Asia, Japanese shares rallied and the yen fell on Monday after Tokyo escaped direct criticism from its G20 peers on its aggressive reflationary plans that have weakened the currency.Taking their cue from the G20, the Nikkei average opened up 1.3 percent as the yen resumed its downtrend.
The MSCI's broadest index of Asia-Pacific shares outside Japan was nearly unchanged. The pan-Asian index briefly hit a 18-1/2-month high on Friday and had its best performance since the week of January 6 with a 1.2 percent weekly gain.
Markets in China and Taiwan resumed trading after a week-long holiday.
In Seoul, the Kospi opened down 0.1 percent, partly weighed by concerns over continued yen weakness that could erode the competitive edge of Korea's exporters.
STOCKS TO WATCH
State-run Power Finance Corp (PFC) will be in spotlight as the company plans to raise Rs 100 crore through tax-free bonds issue which begins today.
Jet Airways may see some price action as Etihad Airways said it needs to revise its deal to buy a stake in Jet Airways. Also, he added, that it is too soon to say when a final agreement will be struck.
Bharti Airtel is expected to see a positive tick as the operators offering 4G services with 2,300-MHz spectrum are likely to get the option of switching to the more efficient 700-MHz band.
Fertilizers may see some negative moves as the International Monetary Fund said India needs to rationalise its fertiliser subsidies to ease burden on government's purse.
Cairn India may open with a green tick as the company has won approval to drill exploration wells on the prolific Rajasthan block that will help it boost output to 215,000 barrels per day by March 2014.
Welspun may see some upward movement as the company is set to invest Rs 1,000 cr to hike yarn and cotton production.
Tata Motors is set to introduce a refreshed model of the Nano car in the first half of this year and a CNG option coming 'very soon'. This may lend some support to the stock.
Indian Oil Corp will see some more upside as the country's largest fuel retailer by sales, effected the hike in petrol price by Rs 1.50 paisa per litre and diesel prices by 45 paise per litre over the weekend.