Small investors should stay away from stocks right now. But long-term investors, who don’t panic when the stock market tanks, could see substantial gains over the next three-to-four years.

“The exit polls have been more positive than expected. After 30 years, it seems, there will be a fairly decisive mandate (in a general election),” said Rashesh Shah, chairman and CEO, Edelweiss, a large financial services firm.

“If Modi wins, the Sensex could rise another 2,000 points, but it’s not sustainable. A correction is bound to come,” said Parag Parikh, chairman, Financial Advisory Services.

“But a slight swing (in the results) on the negative side (read: the NDA not winning) may lead to a short-term irrational downturn (in share prices),” added Shah.

However, the long-term prospects of the Indian economy remain bright. So investors who don’t panic and sell out when their shares fall could see substantial gains over the next three-to-four years. “If the government takes positive steps on the economy, we could be in for a medium to long-term bull market,” said A Balasubramanian, CEO, Birla Sun Life AMC.

The original article could be seen here.