Foreign institutional investors' investment trend, global cues and Indian rupee movement against the US dollar will also be key drivers for the domestic markets.
Besides, markets are expected to remain volatile in view of derivatives expiry on Thursday.
"As long-term uptrend is seen on the index, we can expect buying emerging from lower levels. Global cues, quarterly results and RBI's monetary policy outcome on January 28, are likely to impact near term market trend.
"This week, 6,350 shall be crucial deciding level in near term, and Nifty is likely to witness further buying above this level," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
RBI Governor Raghuram Rajan's comments last week on inflation dashed hopes of a rate cut in this week's monetary policy review.
Marketmen said that Rajan's comment that inflation was a "destructive disease" killed rate cut hopes.
Among major results this week are, Hindustan Unilever, Sesa Sterlite, Jindal Steel & Power, NTPC, Maruti Suzuki India, GAIL (India), Bharti Airtel, ICICI Bank, Hero MotoCorp and Punjab National Bank.
"This week is going to be crucial as we have some major events lined up on both domestic and global front.
Participants are eagerly awaiting the stance of RBI governor
on key policy rates.
"Alongside, US FOMC meet is also scheduled and holds importance for liquidity scenario across the globe. And lastly, we have F&O expiry of January month on Thursday," said Jayant Manglik, President-Retail Distribution, Religare Securities.
"We have been emphasising that Nifty should sustain above 6,350 decisively, to regain the upside momentum otherwise the sentiments would automatically shift to the negative side, which is currently hovering slightly in the favour of bulls," he added.
On the global front, the FOMC will hold a two-day monetary policy meeting on January 28-29, 2014.
Last month, the US Federal Reserve decided to taper its monthly bond-buying programme, raising concerns that funds available for investing in emerging markets would be reduced.
The US central bank will cut its purchases of bonds to USD 75 billion from USD 85 billion, starting in January 2014.