The Bharatiya Janata Party, which has a target of more than 272 seats in the elections, "was not there" in 215 of 543 constituencies, Sibal told IANS.
"Of the remaining about 330 seats, they expect to win 272 seats. It is nonsensical," the Congress leader said.
The highest they will get may well be around 120 seats:Sibal
Going by the normal rate of success in an election, the BJP could win 120-130 seats, he said.
"The highest they will get may well be around 120 seats," said Sibal who is recontesting the elections from Chandni Chowk in Delhi.
Contending that the BJP was weak in states like Tamil Nadu, West Bengal, Odisha, West Bengal, Andhra Pradesh and the northeastern region, Sibal said there was no wave in India in favour of the party's prime ministerial candidate Narendra Modi.
He, however, said he was not taking any of his opponents lightly.
Asked about the detention of two men from Jamia Nagar Sunday on the suspicion that they had links with Indian Mujahideen operatives arrested from Rajasthan, Sibal said the issue should be probed and responsibility fixed for any lapse.
He said the two people have been released, and his sons will take up the case if the two people were wrongly taken into custody.
Asked abut the role of Home Minister Sushilkumar Shinde, Sibal said the decisions to arrest people were taken by officials.