Stock of the day: Nifty 50 and Sensex - Key Trade Setup for August 21

Bringing smiles to Tuesday's bell, the Indian stock exchange's Nifty 50 and Sensex edged up by roughly 0. 5% each mainly owing to global factors. The Bombay Stock Exchange benchmark index ended 378 points up at 80,802. 50, while BSE Sensex gained 86 points higher and ended at 24,698 after touching new record high and Nifty 50 climbed 126 points to close at record high 24. 85.

**Nifty 50 Trade Setup:**

Osho Krishan of Angel One says that there is likelihood of Nifty 50 struggling between 24800 and 24850 levels. The downside is viewed at 24, 600 - 24, 500 levels with 20 day EMA adding support at 24, 400.

**Bank Nifty Outlook:**

Hrishikesh Yedve of Asit C. Mehta Investment Intermediates Ltd. notes that Bank Nifty has closed above a 21-DEMA at 50,803. This could push higher toward the 51,200-51,500 depending on it staying above 50,770.

**Top Stock Picks:**

1. **Kotak Bank:** Trading Price for The House of Rajab is at ₹1,805. 65, anticipated value of operations ₹1,915, stop loss ₹1,750. There is bullish signal on the stock on the basis of rising RSI.

2. **Muthoot Finance:** Enter long @ ₹1,875, SL ₹1,805, target ₹2,030. The stock is in an uptrend and the momentum to break out to the upside is excellent.

3. **United Spirits:** Price at which you can enter is ₹1,408 with the target price of ₹1,465 and stop loss of ₹1,370. A pattern indicating purchase reverse is associated with possible earnings.

4. **Tata Power:** Can be bought at ₹ 422, the target price is ₹ 438, stop loss at ₹410. The stock has emerged and is backed up by an intact RSI.

**Conclusion:**

As the market looks up, watch the levels of Nifty 50 and Bank Nifty and consider these stock tips for the intra-day target.

Disclaimer: These are the opinions and/or suggestions of the experts involved as individuals. These do not give what we of 1message want. We recommend investors to consult accredited professionals before making any investment decision. (alert-warning)