According to Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, Ujjivan Small Finance Bank and 360 One Wam have been identified as top stock recommendations for the week of August 17-21, 2026. The analyst has provided detailed technical analysis and accumulation zones for both stocks based on their current price action and technical indicators.
As reported by SBI Securities, Ujjivan Small Finance Bank has been consolidating in a 73-68 range since July 24th. The stock trades above key short and long-term moving averages with the RSI rebounding twice from the 60 mark on the daily timeframe. The ADX is rising on the weekly timeframe, indicating bullish trend strength. The ratio line in the UJJIVANSFB/NIFTY ratio chart is in a rising mode, showing strong outperformance vis-a-vis the benchmark. The analyst recommends accumulating the stock in the 72-73 zone with a stoploss of 69.5, targeting a short-term test of 78 level.
According to the analysis, 360 One Wam has been consolidating in a 1197-1109 range on the weekly timeframe since late April, moving in an ascending triangle pattern. The RSI is in a rising mode on the weekly timeframe with the MACD line crossing the zero line with rising green histogram bars. The DI+ has crossed over DI- in the ADX indicator on the daily timeframe, indicating buyers are firmly in control. The analyst recommends accumulating the stock in the 1170-1185 zone with a stoploss of 1135, targeting a short-term test of 1265 level.
As reported by SBI Securities, the benchmark index Nifty has been trading in a narrow range of 500 points since the beginning of August. The daily ATR is currently quoting at 192 points, which was lowest since the first week of January 2026. The index oscillates near its 20 and 200-day EMA levels with the daily RSI at 52 level in falling mode. The 50-day EMA zone of 24200-24150 will act as important support while the zone of 24550-24600 will act as crucial hurdle for the index.
According to the analysis, Bank Nifty has been oscillating in the 58706-56023 zone since the last 9 weeks, with the range narrowing significantly in the last three weeks to a 1576 points range. The index has been forming small body candles with shadows, showing indecisiveness. The daily ADX is quoting at 8.99, which was lowest since March 2019, indicating lack of strength in either direction. The 58000-58100 zone will act as an important hurdle while the 50-day EMA zone of 57200-57100 will act as crucial support for the banking benchmark index.
