"Markets extended yesterday’s rebound and gained over a per cent, following supportive global cues. After the gap-up start, the benchmark hovered in a narrow range in the first half however buying interest in select heavyweights helped the index to regain momentum and close around the day’s high as well. All eyes are on the outcome of MPC’s monetary policy review meet on Thursday and we expect the committee to maintain the status quo on rates, but may change their stance to neutral. Besides, their commentary on growth and inflation would be crucial. On the index front, a decisive break above 17,550 in Nifty would help the index to inch further higher towards the 17,800 zone else profit taking may resume. Participants should align their positions accordingly," said Ajit Mishra, VP - Research, Religare Broking