SBI Securities has named AIA Engineering and Cochin Shipyard as the top stock buys for the trading week of August 10-14, 2026, according to a technical outlook for Nifty50 and Bank Nifty. Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, said the two stocks are positioned for short-term upside on the back of breakout patterns and improving momentum indicators.
AIA Engineering: accumulation zone at 4740-4790
According to Shah, AIA Engineering has given a downward sloping trendline breakout on the daily timeframe. Since July 20, the stock was largely moving in a 4712-4460 range, reflecting a period of low volatility and sideways bias. The stock now trades above key short and long-term moving averages, indicating an improvement in the near-term structure.
The MACD line has crossed over the signal line and also reclaimed the zero line, signalling build-up of momentum on the bullish side. The rising ADX on the weekly timeframe indicates bullish trend strength. Shah recommends accumulating the stock in the zone of 4740-4790, with a stoploss of 4600 and a short-term upside target of 5125.
Cochin Shipyard: RSI settles at 65
Cochin Shipyard found strong support at the 1400 level twice since early June and saw a swift move on the upside, Shah said. The stock has reclaimed its 20, 50 and 100-day EMA and has now closed at touching distance from its 200-day EMA. There has been a healthy rise in volumes since the last two trading sessions.
The RSI, which was hovering below the 40 mark, saw a strong uptick and settled at 65, indicating renewed bullish momentum. The stock has also closed above the upper band of the Bollinger bands for the last two trading days, a phenomenon often seen at the start of strong trends. Shah recommends accumulating the stock in the zone of 1505-1525, with a stoploss of 1460 and a short-term target of 1630.
| Stock | Accumulation zone | Stoploss | Short-term target |
|---|---|---|---|
| AIA Engineering | 4740-4790 | 4600 | 5125 |
| Cochin Shipyard | 1505-1525 | 1460 | 1630 |
Nifty50: narrowest weekly range since December 2025
On the first trading session last week, the benchmark Nifty index gave a downward sloping trendline breakout on a daily scale, but failed to witness follow-up moves and slid into a period of consolidation, Shah noted. The index traded in a narrow range of 346 points — the narrowest weekly range since the last week of December 2025 — showing a lack of conviction from both bulls and bears.
On a weekly scale, the index formed a doji candle, which shows indecisiveness. Currently, the index is trading above its short and long-term moving averages, but the momentum indicators and oscillators are portraying sideways trends. The zone of 24700-24750 will act as an important hurdle. Any sustainable move above 24750 could lead to a sharp upside rally up to the psychological level of 25000, followed by 25200. On the downside, the 200-day EMA zone of 24400-24350 will act as crucial support.
Bank Nifty: ADX falls to 11.49, lowest since July 2021
For the second consecutive week, Bank Nifty has traded in a narrow range, moving nearly 900 points last week and forming a small body candle with shadows on either side. Since the last 38 trading sessions, the index has been oscillating in the zone of 58706-56023, according to Shah.
Due to the consolidation, the crucial moving averages are quoting flat, and the momentum indicators and oscillators suggest sideways momentum. The daily RSI has been in the sideways zone for the last 22 trading sessions as per RSI range shift rules. The trend strength indicator, daily ADX, is currently quoting at 11.49, the lowest since July 2021, showing lack of strength on either side.
The zone of 58200-58300 will act as a crucial hurdle for the index. Any sustainable move above 58300 could lead to a sharp upside rally up to 59000, followed by 59600 in the short term. On the downside, the 50-day EMA zone of 57100-57000 will act as important support.
| Index | Resistance / Upside triggers | Support |
|---|---|---|
| Nifty50 | 24700-24750 hurdle, then 25000 and 25200 | 200-day EMA at 24400-24350 |
| Bank Nifty | 58200-58300 hurdle, then 59000 and 59600 | 50-day EMA at 57100-57000 |
The levels identified by Shah give investors a concrete technical framework for the coming sessions: a sustained close above 24750 on Nifty and 58300 on Bank Nifty would open the next leg of upside, while the stated EMA zones remain the key downside markers for the August 10-14 week.
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