Nifty and Bank nifty in strong Uptrend, all eyes on Credit policy

Trend in Nifty and bank nifty is strongly up but intraday traders need be be cautious considering credit policy announcement today.
Although expectation from RBI is neutral because the bank has not passed on the last two rate cuts to the consumers but as always volatility would be at higher end due to policy.

Traders may use the strategy of buy on dips till nifty holds 8570(cash) level. If 8570 gets taken out than consider going short.
For BankNifty important technical level to watch out for is 18455(cash)
Will be updating traders throughout the day.