# Raja Venkatraman recommends three stocks for 24 August — retained record

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-08-24 01:00 ingested 2026-08-24 06:56

[original source ↗](https://www.livemint.com/market/stock-market-news/raja-venkatraman-recommends-three-stocks-for-24-august-sensex-nifty-11787532536118.html)

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Confused and tired as the market rolls out towards the end of the August series. The sustained lack of participation and stock specific scenario does create a problem for everyone across the board. However, we can handle the situation if we look at news specific stocks.
Between 17 August and 21 August, 2026, Indian equities witnessed a turbulent week, with the Nifty 50 and Bank Nifty both struggling under persistent selling pressure and elevated crude oil prices.
The Nifty 50 extended its losing streak to eight consecutive sessions, its longest since September 2025, slipping below 24,050 intraday and inching closer to the psychologically crucial 24,000 mark. Despite stronger-than-expected Q1 earnings, the index lost over 2% during the week, reflecting muted sentiment and investor caution.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
JINDALSAW (Cmp 291.65)
JINDALSAW: Buy above ₹292, stop ₹279 target ₹315 (Multiday)
- Why it’s recommended:Jindal SAW Ltd is a global leader in iron and steel pipe manufacturing making large-diameter submerged arc welded (SAW) pipes, ductile iron pipes, and seamless tubes for the energy and water sectors worldwide. Since March 2026 the stock has been making a higher low as the prices take support at the Tenkan Sen and Kijun Sen lines and are slowly heading higher. The negative Q1 numbers got absorbed and the rounding pattern revival are adding to the buying interest that is generating a upward bias. The burst of volume above near the support zones has been attracting attention. With the Directional Index firmly inching higher , it can lead to some strong upward move in the coming weeks. Go long.
- Key metrics:
  
  - P/E Ratio : 35.19,
  - 52-week high: ₹298.40,
  - Volume: 16.80M
- Technical analysis: Support at ₹269, resistance at ₹350.
- Risk factors: High net debt levels, year-on-year revenue contraction in recent quarters, vulnerability to raw material price volatility, and exposure to cyclical infrastructure and steel sector headwinds.
- Buy : above ₹292.
- Stop loss: ₹279.
- Target price: ₹315 (2 Months)
CARTRADE (Cmp 3072.90)
CARTRADE: Buy above ₹3075, stop ₹2950 target ₹3375 (Multiday)
- Why it’s recommended:CarTrade Tech Ltd. is a multi-channel digital automotive platform in India that connects consumers, vehicle dealers, OEMs, and enterprises to buy, sell, market, and finance new and pre-owned vehicles. The negative Q1 numbers impacted its recovery briefly , however a strong deal combined with the recent revival in the Real Estate sector helped its upside aspirations. With the prices are reflecting a sustained buying we should consider going long. A consolidation breakdown with some steady volumes that is indicating a potential decline in store. Consider going long.
- Key metrics:
  - P/E: 125.72,
  - 52-week high: ₹3291.35,
  - Volume: 2.13M.
- Technical analysis: Support at ₹2750, resistance at ₹3500.
- Risk factors: High Related-Party Transaction (RPT) Dependence,AI Disruption Concerns and Depressed Return on Equity (ROE).
- Buy : above ₹3075
- Stop loss: ₹2950
- Target price: ₹3375 (2 Months)
AUBANK (Cmp 1108.20)
AUBANK: Buy above ₹1110, stop ₹1065 target ₹1220 (Multiday)
- Why it’s recommended:AU Small Finance Bank Limited is India's largest small finance bank that began in 1996 as a vehicle finance company. After testing important resistance zones around 1100 the prices have finally given a closing above it with a long body candle suggesting a strong bullish bias. We can see now that the strong thrust on the back of volumes can augur well for the prices. With the prices are reflecting a sustained buying and the Private Banking sector showing strong resilience we consider going long.
- Key metrics:
  - P/E: 29.02,
  - 52-week high: ₹1105,
  - Volume: 2.11M.
- Technical analysis: Support at ₹1050, resistance at ₹1250.
- Risk factors: Unsecured portfolio expansion,elevated credit costs and lower casa ratio compared to peers.
- Buy : above ₹1110
- Stop loss: ₹1065
- Target price: ₹1220 (2 Months)
Stock market update
Bank Nifty mirrored this weakness, failing to sustain above 58,000 and closing the week lower as concerns mounted over the Reserve Bank of India’s draft loan-pricing rules. These proposals, which could reduce banks’ flexibility in pricing loans, raised fears of margin compression and clouded near-term earnings visibility. Financials and banking stocks bore the brunt, declining around 0.4–0.5% across sessions.
The broader market showed relative resilience, with small-caps and mid-caps managing modest gains on selective buying, though overall breadth remained weak as ten of sixteen sectors ended in the red. Elevated crude prices near $88 per barrel, driven by geopolitical tensions in West Asia, added to worries about inflation, fiscal balances, and potential interest-rate hikes.
Outlook for trading
From the daily Heikin Ashi charts we observe that the frequency of moderate body candle appearing at lower levels around 24,000 have now given some confidence to the markets to revive. The charts indicate moderate body formation that is suggesting a potential positive bias emerging at these levels to push the prices higher. We now need the markets to hold above 24,000 as majority of sectors are witnessing profit booking. With the market environment not getting much clarity on how to take the steps forward we could be ending the August series on a sombre note. Looking at the trends ahead we should be looking at the other indices to step in to support the revival. One could approach with a 30-minute range breakdown to participate on the either side.
Alongwith the indices the Midcap index too received some selling pressure. While indices are hesitating, the midcap index have managed to hold on to the higher levels and as we can see from the chart below have retained itself above the median line. The inability to gauge the indices could now push the market participants to the midcap segment. This sector could be in action in the coming week as the broader indices take a pause.
Trends have been putting up a fight and they have now eventually given up the possibility of heading higher. Under this situation it is becoming difficult for the uptrend to sustain and deliver a strong trend. The sustained selling pressure at higher levels has now caused key stocks to witness some profit booking. Banking has been firm but will it help the markets continue its further upward traction.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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