Stock market recommendations: Viyash Scientific, and AU Small Finance Bank – have been picked as the top stocks to buy on August 24, 2026 by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities. The expert has shared a detailed outlook on Nifty and Bank Nifty:
Stock recommendations:
Viyash ScientificVIYASH has formed an Adam & Adam double bottom on the daily timeframe. The stock has found strong support around the 245-240 zone since the start of June, with the stock finding strong buying interest every time it slipped into this zone. Recently, the stock gave a strong pullback from its 100-day EMA on the daily timeframe and moved higher.The RSI has started to rise, indicating renewed bullish momentum. Additionally, the DI+ is placed above DI- in the ADX indicator, indicating that the bulls have a firm grip in this stock. The stock is poised to give an Adam & Adam double bottom neckline breakout and move higher in the near term. Hence, we recommend to accumulate the stock in the zone of 274-278 with a stoploss of 265. On the upside, it is likely to test the level of 295 in the short term.AU Small Finance BankAUBANK hit an all-time high of 1108 on the daily timeframe. The stock found strong resistance around the 1080-1100 zone, a zone it failed to cross decisively multiple times since late April, before giving a decisive breakout on 21st August. On the other hand, the 20-day EMA has been acting as a dynamic support for the stock, keeping its broader bullish trend intact.The rising ADX on the daily timeframe suggests gradual buildup of bullish trend strength. The RSI is settled above the 60 mark on both the daily and weekly timeframe, suggesting momentum is very well on the bullish side. Hence, we recommend to accumulate the stock in the zone of 1105-1115 with a stoploss of 1065. On the upside, it is likely to test the level of 1190 in the short term.
Nifty View
Since the beginning of August month, the benchmark index Nifty has been gradually moving lower. It has marked the low of 24025 level and thereafter witnessed a minor pullback. However, for the second consecutive week, the index has ended on a negative note. On a weekly scale, it has formed a small body candle with minor lower shadow.One interesting observation is that since the beginning of August month, the index has been mostly witnessing momentum in the first hour of the trading session and thereafter it slides into the period of consolidation. The index is forming small body candles, which shows lack of commitment from both bulls and bears.Technically, the index has been oscillating near its crucial moving averages. These averages are quoting flat. The momentum indicators and oscillators are also suggesting sideways momentum. The daily RSI is in the sideways zone. The trend strength indicator, daily ADX is quoting at 12.80 level and is quoting flat.Going ahead, the zone of 24350-24400 will act as a crucial hurdle for the index. While, on the downside, the zone of 24050-24000 will act as important support for the index. A decisive move on either side will lead to a trending move in the index.
Bank Nifty View
Since the last 48 trading sessions, the banking benchmark index Bank Nifty has been oscillating in a range of 58706-56023 zone. However, since the last 13 trading sessions, the range has narrowed further. It has been oscillating in a narrow range of 721 since the last 13 trading sessions.The subdued price action has led to the formation of a Bollinger Band Squeeze on the daily chart, a technical setup that emerges when volatility contracts significantly and the Bollinger Bands narrow. Historically, such periods of compressed volatility are often followed by a sharp directional breakout.Momentum indicators continue to reinforce the consolidation narrative. Both the Daily RSI and Stochastic Oscillator are moving sideways, reflecting the absence of strong momentum. Meanwhile, the ADX, a widely followed trend strength indicator, has declined to 8.06, marking its lowest reading since inception.Going ahead, the zone of 58000-58200 will act as a crucial hurdle. The zone of 57200-57000 will act as important support for the index. 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.)
