SBI Securities has named Ujjivan Small Finance Bank and 360 One Wam as the top stocks to buy for the trading week of August 17-21, 2026, even as the Nifty benchmark remains trapped in a narrow 500-point range and its daily ATR has dropped to 192 points — the lowest since the first week of January 2026 — according to Business Today.
Nifty Outlook: Low Volatility, Key Levels to Watch
Business Today reported that Nifty has been trading in a narrow range of 500 points since the beginning of August. The daily ATR is quoting at 192 points, the lowest since the first week of January 2026. In most trading sessions since the start of August, the index witnesses momentum in the first hour before consolidating in a narrow range, making intraday and short-term trading difficult. The broader Nifty Midcap 100 and Nifty Smallcap 100 indices are also trading in a narrow range since the last couple of sessions.
The index is currently oscillating near its 20-day and 200-day EMA levels, which are flat due to the narrow range. The daily RSI is near 52 and in falling mode, showing fading upside momentum. The daily ADX is at 11.88 and falling, suggesting a lack of strength in either direction.
Going ahead, the 50-day EMA zone of 24,200-24,150 will act as important support, while 24,550-24,600 is a crucial hurdle. Business Today noted that a decisive move on either side would lead to a trending move in the index.
Bank Nifty: Weakest Trend Strength Since 2019
Bank Nifty has been oscillating in the zone of 58,706-56,023 since the last nine weeks, according to Business Today. The range has narrowed significantly in the last three weeks, with the index trading in a narrow range of 1,576 points. The index has been forming small body candles with shadows on either side, showing indecisiveness. The daily RSI has traded in the 60-44 zone over the last 28 trading sessions. The daily ADX is quoting at 8.99, the lowest since March 2019, highlighting a lack of strength in either direction.
Stock Recommendation: Ujjivan Small Finance Bank
Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, recommends accumulating Ujjivan Small Finance Bank (UJJIVANSFB) in the zone of 72-73, with a stoploss at 69.5 and a short-term upside target of 78. The stock has been consolidating in a 73-68 range since 24 July but trades above key short and long-term moving averages. Business Today noted that the RSI on the daily timeframe has rebounded twice from the 60 mark, keeping its near-term trend intact, while a rising ADX on the weekly timeframe signals bullish trend strength. The UJJIVANSFB/NIFTY ratio chart is in a rising mode, indicating strong outperformance versus the benchmark.
Stock Recommendation: 360 One Wam
For 360 One Wam (360ONE), Shah recommends accumulating in the zone of 1,170-1,185, with a stoploss at 1,135 and a target of 1,265 in the short term. The stock has been consolidating in a 1,197-1,109 range on the weekly timeframe since late April, forming an ascending triangle-like pattern. Despite the consolidation, the stock trades above key moving averages. The RSI is in a rising mode on the weekly timeframe, and the MACD line has crossed the zero line with rising green histogram bars. On the daily timeframe, the DI+ has crossed over DI- in the ADX indicator, suggesting buyers are firmly in control.
Summary of Recommendations
| Stock | Accumulate Zone | Stoploss | Target | Key Technical Signals |
|---|---|---|---|---|
| Ujjivan Small Finance Bank | 72-73 | 69.5 | 78 | RSI rebounded twice from 60, rising weekly ADX |
| 360 One Wam | 1170-1185 | 1135 | 1265 | MACD zero-line crossover, DI+ over DI- |
For investors and traders, the week ahead offers a clear risk-reward framework on two mid-cap names, but the index-level setup remains cautionary — with Nifty's ADX at 11.88 and Bank Nifty's at 8.99, the broader market is devoid of directional strength, according to Business Today. The next milestone for the market will be a decisive break of the Nifty support zone of 24,200-24,150 or the resistance zone of 24,550-24,600, which would trigger a trending move.
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