Bulls to return after March massacre? Elara sees limited downside for Nifty after 11% crash amid Iran-US war

March 31, 2026

After an 11% March crash driven by the escalating Iran–US conflict, Elara Securities says the Nifty may have limited downside ahead. Historical data shows conflicts typically cap drawdowns near 10%, and with valuations now 7% below long-term averages, the brokerage expects a potential rebound as risks gradually ease.

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