--- title: "Trade Spotlight: How should you trade ICICI Bank, Action Construction Equipment, IIFL Finance, DCB Bank, Swiggy, and others on August 24?" type: "News" locale: "en" url: "https://longbridge.com/en/news/296727530.md" description: "Analysts recommend buying KFin Technologies, DLF, Affle 3i, Action Construction Equipment, IIFL Finance, and Kaynes Technology based on bullish technical patterns including breakouts and moving average alignments. Targets range from Rs 1,090 to Rs 2,000 with specific stop-loss levels provided for each stock." datetime: "2026-08-24T02:32:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296727530.md) - [en](https://longbridge.com/en/news/296727530.md) - [zh-HK](https://longbridge.com/zh-HK/news/296727530.md) generator: "portal-rs" --- # Trade Spotlight: How should you trade ICICI Bank, Action Construction Equipment, IIFL Finance, DCB Bank, Swiggy, and others on August 24? Equity benchmarks closed flat with a positive bias after range-bound trading on August 21, with market breadth slightly in favour of the bulls. About 1,580 shares advanced against 1,478 declining shares on the NSE. The upward journey is expected to continue, with the market focusing on surpassing its short-term moving averages amid the possibility of range-bound trading. Below are some short-term trading ideas to consider: **Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One** **KFin Technologies | CMP: Rs 980** ![Image2323082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-70fb63827823bbb6624338822b64bdc7-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Following a prior swing breakout above the Rs 930–920 range, KFin Technologies is triggering a multi brick breakout on its Daily 1% Renko chart, wherein a bullish one-back also forms a part of the overall price set up. This bullishness is also reflected on the 0.25\*3 and 1%\*3 Point and figure chart of the stock, where the stock is generating a follow through buy to a bear trap, and double top buy respectively. These continuous bullish price patterns, following a bullish pattern retest and P&F support formations, augur well for the overall trend. The buying is recommended around Rs 980-976. Strategy: Buy Target: Rs 1,090, Rs 1,100 Stop-Loss: Rs 921 **DLF | CMP: 678.1** ![Image2423082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-8e01f8850170ab1b8aa8a1fbe540108d-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) DLF after establishing a Renko support pattern near its 40-brick EMA on its Daily 1% Renko chart, is now triggering a multi brick breakout on the same time frame chart. This breakout from this consolidation phase, which resembles a Pole and flat pattern breakout on its candle stick charts, comes after a sharp rally of over 35% over the course of past 4 months, pointing towards a resumption of its prior uptrend. This emerging strength is confirmed on the Point and figure charts of the stock as well, where the stock after forming a weak breakout, and a P&F support pattern, is triggering a Triple top buy on its 1%\*3 Point and figure charts, after taking support near its 10-column MA. The buying is recommended at around Rs 680-675. Strategy: Buy Target: Rs 740, Rs 745 Stop-Loss: Rs 635 **Affle 3i | CMP: Rs 1,718.7** ![Image2523082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-e2f918755d4dc4bbfc11c0f90c962e78-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Following the formation of a Bullish Strike-Back pattern on its 3% Daily Renko chart, Affle 3i has also triggered a Bullish W-Pattern Breakout on the same time frame, further strengthening the bullish setup. An invalidation of the Bearish Swing Engulfing pattern on the Daily 1% Renko chart points towards a gradual shift in control from sellers to buyers, which has been further confirmed by a subsequent Follow-Through Swing Breakout. The bullish undertone is also evident on the 1% × 3 Point & Figure chart, where the stock has triggered a Double Top Buy, while simultaneously invalidating a prior Bearish 100% Pole. Hence, the buying is recommended around Rs 1,710-1,700. Strategy: Buy Target: Rs 1,990, Rs 2,000 Stop-Loss: Rs 1,575 **Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis Securities** **Action Construction Equipment | CMP: Rs 1,182.2** ![Image2023082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-93c660df0c29a65826eb713997d9bd7f-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On the weekly chart, Action Construction Equipment confirmed a decisive breakout from the rounded bottom formation at Rs 1,155 on a closing basis, along with rising volumes indicating increased participation. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames. The weekly Bollinger Band buy signal indicates increased momentum. Strategy: Buy Target: Rs 1,260, Rs 1,330 Stop-Loss: Rs 1,145 **IIFL Finance | CMP: Rs 679.80** ![Image2123082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-daf46ffedca30c44935cfa36614ab257-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) IIFL Finance registered an all-time high at Rs 687, indicating bullish sentiments. The stock is in a strong uptrend, forming a series of higher tops and bottoms, indicating a positive bias. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. The daily and weekly Bollinger Band buy signal indicates increased momentum. Strategy: Buy Target: Rs 707, Rs 730 Stop-Loss: Rs 660 **Kaynes Technology India | CMP: Rs 3,890** ![Image2223082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-a862c686e35655ca82e12454d3c9a2f5-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On the daily chart, Kaynes Technology has experienced a short-term trend reversal, forming a series of higher tops and bottoms. The stock is well placed above the 20, 50, and 100-day SMAs, which reconfirms bullish sentiment. The daily and weekly RSI are in positive territory, supporting rising strength. In addition, the stock has decisively surpassed a one-year down-sloping trendline breakout on a closing basis. Strategy: Buy Target: Rs 4,000, Rs 4,100 Stop-Loss: Rs 3,798 **Jatin Gedia, VP - Technical Research at Teji Mandi Investment Technologies** **DCB Bank | CMP: Rs 203.59** ![Image2623082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-779f8ced699bdec59cc7684484a0caec-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) DCB Bank has been consolidating for the last nine months. The consolidation has taken the form of an ascending triangle pattern, which is a typical wave 4 pattern according to Elliott wave principle. Triangles are trend continuation patterns; hence, we expect this consolidation to break out on the upside. The pattern target is projected at Rs 235, with potential to rise toward Rs 269, which is the projected target for Wave 5. Last week, the stock formed an engulfing bull candlestick pattern on the weekly charts and closed around the highs for the week, suggesting strong buyer interest. The weekly momentum indicator MACD has triggered a fresh positive crossover, which is a buy signal. Strategy: Buy Target: Rs 235 Stop-Loss: Rs 192 **ICICI Bank | CMP: Rs 1,420** ![Image2723082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-6e5d218b6947ee9944fb72276263fd0e-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ICICI Bank found buying interest from the lower end (Rs 1,390 - 1,400) of the reverse channel. It has closed above the previous three-day high (Rs 1,416), indicating short-term strength. On the weekly charts, it formed a hammer pattern after a three-week decline, suggesting strong buying interest that reversed prices from intraweek lows. The stock managed to close above Rs 1,408 level which was the 40-day average indicating short term trend. The weekly momentum indicator has a bullish crossover; therefore, this dip towards the support level should be considered as a buying opportunity. On the upside, we expect the stock to trade with a positive bias toward Rs 1,463, which is the daily upper Bollinger Band, followed by Rs 1,480, the previous swing high. Strategy: Buy Target: Rs 1,460, Rs 1,480 Stop-Loss: Rs 1,390 **Swiggy | CMP: Rs 282.5** ![Image2823082026](https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/moneycontrol:1c0af4bcc094b-b2ef948884923a4162a7d7229ff6d1af-resized.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Swiggy has started to form higher highs and higher lows on the weekly charts, suggesting a trend reversal. Last week, the stock found buying interest at the Rs 270 - 275 support cluster, which coincides with the 50 percent Fibonacci retracement level (Rs 274) of the Rs 245 to Rs 305 rally and the 40-day moving average at Rs 274. The weekly momentum indicator ha positive crossover; therefore, this dip towards the support area should be considered as a buying opportunity. On the daily charts, it formed an inside bar pattern making the extremes of the range that is Rs 275 and Rs 285 crucial levels to watch out for. A move beyond Rs 285 would suggest a breakout and lead to a rally toward Rs 299, which is the 200-day moving average. Strategy: Buy Target: Rs 299 Stop-Loss: Rs 275 **Disclaimer** *Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. 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