Stock market recommendations: Ujjivan Small Finance Bank, and 360 One Wam have been identified by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities as the top stocks to buy on August 17, 2026. The analyst has also shared technical views and outlook for Nifty and Bank Nifty:
Stock recommendations:
Ujjivan Small Finance BankUJJIVANSFB has been consolidating in a 73-68 range since 24th July. Despite the consolidation, the stock trades above key short and long-term moving averages. The RSI on the daily timeframe has rebounded twice from the 60 mark, keeping its near-term trend intact. The ADX is rising on the weekly timeframe, indicating presence of bullish trend strength.The ratio line in the UJJIVANSFB/NIFTY ratio chart is in a rising mode, indicating strong outperformance vis-a-vis the benchmark and the potential to continue in the near term. With the strong indicators alignment and positive price action structure, the stock seems poised for a breakout in the coming sessions. Hence, we recommend to accumulate the stock in the zone of 72-73 with a stoploss of 69.5. On the upside, it is likely to test the level of 78 in the short term.360 One Wam360ONE has been consolidating in a 1197-1109 range on the weekly timeframe, since late April, moving in an ascending triangle like pattern. Despite the consolidation, the stock trades above key moving averages. The RSI is in a rising mode on a weekly timeframe, indicating gradual buildup of momentum. The MACD line has crossed the zero line with rising green histogram bars, which further reinforces bullish bias.Additionally, on the daily timeframe, the DI+ has crossed over DI- in the ADX indicator, suggesting that the buyers are firmly in control, despite the consolidation. Hence, we recommend to accumulate the stock in the zone of 1170-1185 with a stoploss of 1135. On the upside, it is likely to test the level of 1265 in the short term.
Nifty View
Since the beginning of August month, the benchmark index Nifty has been trading in a narrow range of 500 points. Most noteworthy, the daily range of the index has dipped significantly. The daily ATR is currently quoting at 192 points, which was lowest since the first week of January 2026.In most of the trading sessions since the start of August, the index witnesses a momentum in the first hour of trading session. Thereafter it witnesses a consolidation in the narrow range. This makes intraday and short term trading difficult. The broader indices Nifty Midcap 100 and Nifty Smallcap 100 are also trading in a narrow range since the last couple of trading sessions.Coming back to Nifty, the index is currently oscillating near its 20 and 200-day EMA level. Due to the narrow range, the moving averages are quoting flat. The daily RSI is quoting near 52 level and it is in falling mode, which shows fading upside momentum. The trend strength indicator, daily ADX is quoting at 11.88 level and it is in falling mode, which suggests lack of strength in either direction.Going ahead, the 50-day EMA zone of 24200-24150 will act as important support for the index. While, on the upside, the zone of 24550-24600 will act as a crucial hurdle for the index. A decisive move on either side will lead to a trending move in the index.Bank Nifty ViewThe banking benchmark index Bank Nifty has been oscillating in the zone of 58706-56023 zone since last 9-weeks. The range has narrowed significantly in the last three weeks, where the index has traded in a narrow range of 1576 points. Most noteworthy, since the last three weeks, the index has been forming small body candles with shadows on either side, which shows indecisiveness.Due to the narrow range for a long time, all the crucial moving averages started trading flat. The daily RSI has been trading in the zone of 60-44 since 28 trading sessions.Most noteworthy, the daily ADX of index is quoting at 8.99, which was lowest since March 2019. This shows lack of strength in either direction.Going ahead, the zone of 58000-58100 will act as an important hurdle for the index. On the downside, the 50-day EMA zone of 57200-57100 will act as crucial support. A decisive move on either side will lead to a trending move in the index.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)