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After a historic comeback on Saturday in the Maharashtra Assembly polls, the Mahayuti leaders are set to be sworn into its new government at the Wankhede stadium on Monday though the chief ministerial candidate is not clear.In a major sweep, the Mahayuti alliance, comprising the BJP, Shiv Sena, and NCP factions, moved towards a landslide win, defeating the Maha Vikas Aghadi (MVA).The BJP-Shiv Sena-NCP alliance currently holds power in the state. Despite Eknath Shinde's position as Chief Minister, the BJP has not guaranteed that he will retain the role. Senior BJP leader Devendra Fadnavis, a former Chief Minister himself, recently stated that the decision on the Chief Minister's post would be made by the leaders of the three parties. He added that the national presidents of the three parties would have the final say, suggesting that the BJP may seek the Chief Minister’s position for itself.Most exit polls on Wednesday had predicted a victory for the BJP-led alliances in Maharashtra, though some suggested an edge for the opposition Maha Vikas Aghadi (MVA) coalition in the western state. With 288 seats in the Maharashtra Assembly, a majority requires 145 seats.Five months ago, the BJP-led Mahayuti alliance had to settle for a dismal score of 17 of the state's 48 Lok Sabha seats, its poor tally dragging down the BJP's numbers at the Centre and leaving the opposition confident of a repeat in the assembly polls. But Haryana assembly polls and now the trends in Maharashtra suggest the BJP is back with vengeance.

The Mahayuti alliance led by Bharatiya Janata Party (BJP) scoring an emphatic victory, is expected to trigger a rally on the D-Street when markets resume trading on Monday. A larger mandate for the incumbent government will not only boost investor confidence but is also a testimony that people in general are happy with the economic policies and that there will be continuity, said market experts.The BJP led alliance crossed the 200 mark out of the 288 Maharashtra assembly seats which went to polling. While the alliance is yet to take a call on who the CM will be this time around, the mood was upbeat. The new chief minister is set to take oath on November 26, Tuesday. The stability In Maharashtra could trigger a rally in the stock market, boosting investor confidence especially in infrastructure, urban development and manufacturing sectors which are aligned with BJP policies, said Palka Arora Chopra, Director of Master Capital Services Ltd.Meanwhile, the JMM-led alliance’s expected return to power in Jharkhand, suggests continuity in social welfare policies, Arora said, while conceding that Jharkhand's results could not offer the same level of market enthusiasm as Maharashtra.The election results indicate that not only the majority has been retained but with a much wider mandate, which indicates that the people in general are happy with the economic policies and there will be continuity in policy, expert Sandip Sabharwal said. "Maharashtra being the second largest state in the country, a mandate like this from here also reinforces the entire growth story of the country. So, I would think that it would be taken positively and it has come at a time when markets are not at all-time high," he added.Echoing a similar sentiment, Santosh Meena, Head of Research, Swastika Investmart said that Maharashtra, where NDA witnessed one sided victory is likely to boost bullish sentiments, further though global factors will continue to pose significant risks.Expert Ajay Bagga sees an immediate impact of results and not a very lasting one. On the ramifications of the results, Bagga said that there will be a continuity of policy in a state which is having $470 billion of GSDP. "It (Maharashtra) is an important state for India. It houses the commercial capital as well," he added."The results will have a positive impact on foreign investors who look at political stability at the centre because a coalition alliance has won one of the major seats. So, the Modi government has proved its credentials in leading a coalition alliance to victory, and that helps strengthen the credentials of his central government for the next five years. So, foreign investors would be looking at this as a boost of confidence in the Indian central government as well," Bagga told ET Now.Meanwhile, in UP assembly bypolls, BJP won two seats while maintaining a lead in five others. Samajwadi Party was leading in two seats at the time of filing the story.Decoding charts, Meena said that Nifty has found strong support at 23,200, which aligns with the 61.8% retracement of its previous rally from the election-day low of 21,281 to the high of 26,277. The index reclaimed its 200-DMA with a bullish harami candlestick formation, signaling a potential trend reversal, he added."Immediate resistance is at the 20-DMA of 24,030, and a breakout above this level could push Nifty toward 24,550/25000 levels. On the downside, 23,500, near the 200-DMA, remains a critical support level. Similarly, Bank Nifty has held firm at its 200-DMA, with immediate resistance at 51,300–52,000 and a higher resistance zone at 52,600–53,300," this analyst said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)