 "Inflation, IIP data to guide market; earnings eyed too")
Foreign investment trend will also be keenly followed, traders added.
Analysts said that prevailing risks with Q4 numbers and outcome of key bills in Parliament will decide the market momentum going forward.
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"Stock-specific activity will continue in the results season, as stock valuations adjust to the realities delivered in the March quarter results. Further, industrial production and inflation data will also be released this week, which will add to the intra-week volatility," Hitesh Agrawal, Head of Research at Reliance Securities said.
Ashok Leyland, Dr Reddy's, Lupin, Cadila Healthcare and JSW Steel will announce their results this week.
On macroeconomic front, data on inflation based on consumer price index (CPI) for April will be unveiled on Tuesday. On the same day, industrial production (IIP) data for March will be released.
Moreover, wholesale price index (WPI) data for April will be announced on Thursday.
"Despite Friday's rebound, sustainability seems difficult at higher level due to existence of multiple hurdles and lack of conviction among the participants due to various domestic and global issues," said Jayant Manglik, President of Retail distribution at Religare Securities.
Markets on Monday may react to the US jobs data, where the economy pumped out a solid 223,000 net new jobs in April.
On a weekly basis, the benchmark BSE Sensex gained 94.08 points to conclude at 27,105.39.
The 50-issue NSE Nifty settled the week at 8,191.50, a modest gain of 10 points.
"Sentiments got some support with Finance Minister Arun Jaitley announcing a high level committee, which will give its recommendations on the issue of imposition of MAT on foreign investors," Manglik added.