Cautious trading is likely to prevail in equities ahead of the September quarter earnings from Infosys on October 11, they said, adding that weakening economic growth could have weighed on corporate earnings.
The industrial production data for August is scheduled to come on Friday.
Besides, data on inflation based on wholesale price index (WPI) and consumer price index (CPI) for September, to be declared on October 14, would also be key triggers for the markets.
The Reserve Bank of India will announce its second quarter monetary policy review on October 29.
"As we enter the quarterly results season, we expect the market to respond to the developments related to the US budget deadline and debt ceiling. There could be volatility around these events. This would be followed by the Fed meeting towards the end of October," said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
"Market may react to earnings announcements. Most domestically-oriented companies are expected to report weak profitability.
"Over the medium-to-long term, reform initiatives on domestic front and interest rate movements will be important triggers. Markets will also try to take cues from the results of elections in five Indian states," Shah added.
The Federal Open Market Committee (FOMC) will hold a two-day policy meeting on October 29-30.
Market regulator Sebi's board meeting which took place on Saturday may also impact the markets on Monday.
"In coming sessions, 5,900 shall be crucial deciding level for Nifty in near-term, and the index is likely to witness further buying above this level," said Nidhi Saraswat, Senior Research Analyst at Bonanza Portfolio.
Over the past week, the BSE benchmark Sensex rose by 188.68 points to end at 19,915.95.