McCulloch and McGregor were injured against Celtic
Rangers fear that Lee McCulloch could miss the rest of the season while Allan McGregor will be out for two weeks after being injured against Celtic.
Midfielder McCulloch lasted the 90 minutes of the 2-1 defeat but has a major ankle injury after a late challenge from Paul Hartley.
Goalkeeper McGregor came off after 77 minutes at Celtic Park after going over on his ankle.
Rangers assistant Ally McCoist said: "It's a blow to lose both players."
The pair, who face further scans to their ankles on Friday, will definitely miss Sunday's Scottish Cup semi-final against the First Division Saints.
And both are also doubtful for the first leg of their Uefa Cup semi-final against Fiorentina and the Scottish Premier League return to Celtic Park on 27 April.
Lee's foot looks horrendous
Rangers assistant manager Ally McCoist
Rangers fear that Allan McGregor and Lee McCulloch could miss their next two matches - against St Johnstone and Fiorentina - because of injury.
Goalkeeper McGregor and midfielder McCulloch picked up knocks in Wednesday's defeat by Celtic.
"Lee's injury is also a concern because there is so much swelling and clearly it gives us a problem for the home leg with Fiorentina in particular," said McCoist.
"Lee's foot looks horrendous. The swelling is massive and there's very bad bruising on it."
Losing McCulloch against Fiorentina would add to Rangers' problems in midfield.
Captain Barry Ferguson and Kevin Thomson are both suspended for the first leg, while Charlie Adam has been ruled out through injury for the rest of the season.
Rangers also have David Weir suspended for Sunday's cup game and defensive partner Carlos Cuellar banned for next Old Firm derby.
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