LLama Research

Six years ago, Nifty fell 38% in six weeks.
Headlines invoked 1929. Portfolios bled. Smart people sold at the bottom.
Then the end became the beginning.
Fast forward to March 2026. Nifty 14.5% off peak. Rupee at 95. FPIs sold ₹1.13 lakh crore in a single month, the biggest exit on record. “Worst since 2020” trending everywhere.
Different trigger. Same emotional math.
Here’s what nobody tells you about corrections: the ingredients rarely change. Global shock, foreign outflows, currency panic, red screens. Rinse, repeat. Only the headlines get a fresh coat of paint.
What changes outcomes isn’t the depth of the drawdown.
It’s whether you wrote your playbook before the panic, or you’re scribbling one during it.
Conviction is cheap at all-time highs. It’s expensive at the bottom. That’s the whole game.
Corrections don’t ask permission.
Neither do recoveries.
Save this. The next one is already on its way.
📍 Schedule your clarity call → llamaresearch.in.
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