Pre-market: All eyes on RBI Monetary Policy

The Reserve Bank's monetary policy review today and global cues will set the investor tone in the truncated week ahead.

According to technical analysts, the NSE index is likely to seek support around 5,555-5,540, while on the upside can face resistance around 5,600-5,615.

On the global front, US stocks pared gains but were up for the fourth straight day on Friday on the Federal Reserve's aggressive new plan to stimulate the economy.

Most Asian markets are trading positive. Nikkei and Strait Times have gained by almost 1%.At 700 am Indian Standard Time, the SGX Nifty was trading at 5,642 - up 57 points.

STOCKS TO WATCH

Aviation, retail & cable stocks likely to zoom on FDI move.

Rate sensitive stocks like Banks, Auto and Realty will also remain in focus ahead of the Monetary policy.

ITC launched its super premium luxury hotel, ITC Grand Chola, here. The hotel, which the company claims as the world’s largest LEED Platinum rated, has come up with an investment of around Rs 1,200 crore.

Reliance Industries group is believed to be working on ultra-low cost base stations, which are used to transmit signals for telecom services, costing just Rs one lakh each.

The Finance Ministry is actively looking into a proposal to infuse Rs 4,000 crore in State Bank of India to boost its capital base, and a decision in this regard would be taken in the next few months.

Bhushan Steel and SKS Ispat Ltd are likely to see the cancellation of their coal blocks.