US Fed and regulator announced that all depositors will have access to all money on Monday. Regulator weighing bailout of all unsecured SVB depositors to prevent “Banking Panic”
DOW Futures is currently 400 points up and could witness relief rally on Monday as major shift expected in tight monitory policy.
VIX @ 13.41: turn more cautious if VIX goes above 16.
Approach on Indices: At times when news flow dominates market sentiment technical take a back seat and we believe this time to focus on VIX.
Market View: We would avoid any panic selling and its time we expect short covering rally as supported by news by US Fed. There will be skepticism still in the market as any rally will likely to get sold into. We would avoid making any hasty decision at this time and stick to good stocks with better earnings visibility.
SGX Nifty @ 17466 up 28.50 points at 8:25 AM