It appears from the lead positions that BJP will be able to form a government on its own without depending on outside support. At this hour, the BJP is leading in 267 constituencies with about 490 lead positions in. Another 53 lead positions are likely to be declared in the next one hour. The first results for any constituency are yet to be declared.
There has been talk of an NDA government based on the belief that the BJP will not make it on its own steam. More recently, there was talk of a super NDA government with new potential allies such as Jayalalitha and Naveen Patnaik. If BJP gets past the 272 mark on its own, it may not require the help of its allies or other new allies to form a government.
The Congress with leads in just 45 seats seems set for the worst defeat in its electoral history. Results will start getting declared as counting process gets over in the next one hour or so.