In the absence of any immediate key domestic triggers, the equity market is expected to be guided by Fed interest rate decision, foreign fund inflows and crude oil prices in this holiday-shortened week, according to analysts.
Stock markets will remain closed on Thursday for Holi.
"Minor profit-booking is expected given sharp run-up in domestic markets and global factors. However, the downside will be capped as emerging markets like India is likely to benefit from strong liquidity and reversal in FII flows. For the week ahead, FED interest rate decision is the key event," said Vinod Nair, Head of Research, Geojit Financial Services.
Besides, movement of foreign funds, rupee and oil would continue to play their part in market trend, the analysts added.
During the past week, the Sensex surged 1,352.89 points or 3.68 per cent to close at 38,024.32 on Friday.
"On the international front, one can keep an eye on Fed's interest rate decision on Wednesday. The overhang on Brexit issue and OPEC's supply cut are likely to hit the domestic market in a specific segment," said Debabrata Bhattacharjee, Head of Research, CapitalAim.
"During the past fortnight, Indian markets have enjoyed one of the best stretches in the recent memory. FII inflows have crossed Rs 30,000 crore in Feb-March'19 till date resulting in a flood of inflows after 2018 drought.
"Most heartening aspect of the current rally is it is quite broad-based across the sectors. As border tensions appearing to have cooled-off, and global central bankers turned pro-liquidity, Indian markets are in the risk-on mood," said Jagannadham Thunuguntla, Senior VP and Head of Research (Wealth), Centrum Broking Limited.