Leading financial expert Sudeep Shah, who serves as the Head of Technical Research and Derivatives at SBI Securities, has pinpointed Ujjivan Small Finance Bank and 360 One Wam as compelling investment opportunities for August 17, 2026. Shah’s analysis extends beyond individual stocks, offering valuable technical insights and a comprehensive outlook for both the Nifty and Bank Nifty indices.
Focusing on Ujjivan Small Finance Bank (UJJIVANSFB), Shah observes a period of consolidation within the 73-68 price range since July 24th. Despite this recent stabilization, the stock maintains a robust position above its crucial short and long-term moving averages, signaling underlying strength. Further bolstering this positive outlook, the Relative Strength Index (RSI) on the daily chart has consistently bounced back from the 60 mark, indicating that the near-term upward trajectory remains intact. The rising Average Directional Index (ADX) on the weekly timeframe further reinforces the presence of a strong bullish trend. Moreover, the UJJIVANSFB/NIFTY ratio chart demonstrates a rising trend, suggesting significant outperformance against the broader market benchmark and the potential for this trend to persist in the immediate future. With such a strong alignment of indicators and a favorable price action structure, UJJIVANSFB appears primed for a potential breakout in upcoming trading sessions. Shah recommends accumulating the stock within the 72-73 range, setting a stop-loss at 69.5, with an expectation that it could reach the 78 level in the short term.
Turning attention to 360 One Wam (360ONE), the stock has been consolidating within a 1197-1109 range on the weekly timeframe since late April, exhibiting an ascending triangle pattern. Despite this consolidation, 360ONE trades above key moving averages. The weekly RSI is in a rising mode, indicating a gradual build-up of momentum. The Moving Average Convergence Divergence (MACD) line has crossed above the zero line, accompanied by rising green histogram bars, further reinforcing a bullish bias. On the daily timeframe, the DI+ line has crossed over the DI- line in the ADX indicator, suggesting that buyers are firmly in control, even amidst the current consolidation. Therefore, Shah advises accumulating 360ONE in the 1170-1185 zone, with a stop-loss at 1135, and anticipates a short-term target of 1265.
Shifting to the broader market, the Nifty index has experienced a narrow trading range of 500 points since the beginning of August. Notably, the daily range of the index has significantly compressed, with the Average True Range (ATR) currently at 192 points, marking its lowest level since the first week of January 2026. Most trading sessions in August have seen initial momentum in the first hour, followed by a period of consolidation within a narrow range, making intraday and short-term trading particularly challenging. Broader indices, including Nifty Midcap 100 and Nifty Smallcap 100, have also been trading in a constricted range over the past few trading sessions. The Nifty is currently oscillating near its 20 and 200-day Exponential Moving Averages (EMAs), which have flattened due to the narrow trading. The daily RSI, currently at 52 and in a falling mode, indicates a fading upside momentum. The daily ADX, a trend strength indicator, stands at 11.88 and is also in a falling mode, suggesting a lack of strong directional conviction. Moving forward, the 50-day EMA zone of 24200-24150 is expected to serve as a critical support level for the index, while the 24550-24600 zone will act as a significant hurdle. A decisive breakout in either direction is expected to usher in a trending move for the index.
The Bank Nifty, another key benchmark, has been oscillating within the 58706-56023 range for the past nine weeks. This range has narrowed considerably over the last three weeks, with the index trading within a tight 1576-point band. Over these past three weeks, the index has consistently formed small-bodied candles with shadows on both sides, indicative of market indecision. The prolonged narrow range has led to all crucial moving averages flattening out. The daily RSI has been trading within the 60-44 zone for 28 consecutive trading sessions. Crucially, the daily ADX for the index is currently at 8.99, its lowest since March 2019, highlighting a profound lack of directional strength. Looking ahead, the 58000-58100 zone will act as a significant hurdle for the Bank Nifty. Conversely, the 50-day EMA zone of 57200-57100 will provide crucial support. A decisive move beyond these boundaries will likely trigger a sustained trend for the business index.
