Leading money managers and brokers strongly believe that chances of BJP forming the government at the Centre with outside support would outweigh stock market concerns of the US Federal Reserves cutting back bond purchases and catapult the Sensex to untested levels next year.An ET poll of eighteen such market participants reveals that around one-third feel the Sensex would trade between 23000 and 24000 by the end of FY14 while a fourth expect the index to break above 24,000. Close to three-fifths felt Narendra Modi would head the new coalition government while 35% expressed uncertainty over which party would come to power.Their predictions came a day after election results to four states put BJP firmly in the saddle for forming the government at the national level.Around 45% predicted between 200 and 220 seats for BJP would win 200-220 seats while 18% expect the party to get 180-200 seats in the upcoming Parliamentary poll. Huge hopes and expectations are being built around Modi who is seen as an agent of change and growth.Brokers and fund managers ET spoke to said banks, infrastructure, power and capital goods stocks were the ones to watch out for. Reliance Industries , ITC, SBI, Tata Motors , Maruti, L&T, IDFC and Voltas were some of their favourite picks.“It reaffirms our view about a massive silent transformation in India, a move from ‘caste to class politics,” says Navneet Munot, CIO, SBI Mutual Fund. “Voters are giving decisive mandate to leaders pursuing an agenda focussed only on 2G (Growth and Governance) and completely rejecting the ‘dole out’ or entitlements driven policies.”While 64% said the ongoing Modi factor will overshadow the concerns of Fed tapering which may begin mid-next year, over 71% of the participants expect Indian to get more inflow from FIIs in 2014 compared over 2013. “With global liquidity conditions favourable, India continues to attract FII inflows on expectations of favourable poll results in 2014 and the revival in the economy ,” said PVK Mohan, head – equities “The expectations are that a stable government would aid pick up in the growth rate in the economy in FY15 and beyond”.FIIs have pumped in nearly Rs 35,000 crore into Indian equities since September 13, the day BJP announced Modi as their prime ministerial candidate after selling nearly Rs 23,000 crore worth of Indian stocks between June-August 2013.Over two-thirds of poll participants suggest that investors should buy into equities at the present time while the remaining advise investors to hold on until markets correct from present levels of 21500. However, all those who participated in the poll said that government needs to do more on the policy front.A majority of those polled believe that elections will be held as per schedule and 33% of the poll participants expect NDA to come to power, while 25% backed UPA. Another 25% feels neither of these fronts will come out as winners, but a third front is likely to emerge.