With votes being counted in five Indian states, including West Bengal and Assam, traders are bracing for a politically charged week. The Nifty index closed at 23,997, down 0.73% for the previous week, as foreign institutional investors (FIIs) continued to sell off equities, totaling ₹70,100 crore in April alone. Since the start of 2026, FIIs have withdrawn nearly ₹2.4 lakh crore from Indian markets due to factors like a weaker rupee and high crude oil prices, currently hovering above $110 amid geopolitical tensions. Analysts recommend that investors focus on crude oil prices and foreign fund flows instead of early election trends, as significant market shifts are not expected. The Nifty's performance may fluctuate within a range of 1% to 1.5% based on the final election results compared to exit polls. A strong showing by the BJP in West Bengal could positively impact sectors linked to policy and infrastructure, while the critical technical level for the Nifty remains at 24,000. A decisive move above 24,200 could lead to short covering, whereas a drop below 23,900 might trigger further selling pressure.