Markets, which have been on a record-breaking spree, are poised to scale new highs on expectations of more reforms measures in the month-long Winter session but caution is in order in an eventful week that will see derivatives expiry and release of GDP data, say analysts. Last week, the BSE benchmark Sensex gained 287.97 points to conclude at new closing peak of 28,334.63, while the NSE Nifty settled at its fresh closing high of 8,477.35. "Markets could scale new heights as the winter session of the Parliament, which will start on Monday, could prove to be the harbinger of reforms that investors have been longing for. "With bills related to GST and coal sector reforms on the anvil, investor sentiment is bound to leapfrog ahead. Globally, signs are mixed as the US recovery gets juxtaposed by concerns over the European economy," said Aman Chowdhury, CEO & Founder, Cians Analytics. Unfazed by opposition's hard positions on passage of reform legislations like insurance bill, Finance Minister Arun Jaitley on Saturday had said it is determined to go ahead with the measures in the Winter session. Experts said that investors are hopeful of "announcement of new reforms" in the upcoming session of Parliament. "Participants will be eyeing winter session of the parliament, which will start from Monday. We have F&O settlement on November 27, that would keep volatility on higher side throughout the week. Data on GDP set to be announced on November 28," said Jayant Manglik, President-Retail Distribution, Religare Securities Limited. Though markets are gradually rising but lack of momentum and decisiveness at the higher levels has started causing uneasiness to the participants especially traders, he added. "We believe, continued FII flows and market optimism would keep markets upbeat in the next week and we may see Nifty in the range of 8,100-8,500 in the near term," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. Stock markets are also expecting a favourable outcome in the RBI monetary policy meeting early next month. "We expect markets to remain focused on the upcoming RBI meeting on December 2. Any dovish signal from the RBI will buoy sentiments within the economy and lead to further improvement at the ground level. We believe markets will react positively to the same," said Dipen Shah, Head- Private Client Group Research, Kotak Securities.