Hi chandub,

Check the below sample query.

SQL

DECLARE @Test AS TABLE([time] DATETIME,flag INT)
INSERT INTO @Test VALUES('2018-04-18 16:24:08',0)
INSERT INTO @Test VALUES('2018-04-18 16:14:08',1)
INSERT INTO @Test VALUES('2018-04-18 16:04:08',0)
INSERT INTO @Test VALUES('2018-04-18 15:54:08',0)
INSERT INTO @Test VALUES('2018-04-18 15:44:08',1)
INSERT INTO @Test VALUES('2018-04-18 15:34:08',1)
INSERT INTO @Test VALUES('2018-04-18 15:24:08',0)
INSERT INTO @Test VALUES('2018-04-18 15:04:08',1)
INSERT INTO @Test VALUES('2018-04-18 14:54:08',1)
INSERT INTO @Test VALUES('2018-04-18 14:44:08',0)

CREATE TABLE #Temp([time] DATETIME,flag INT)
INSERT INTO #Temp SELECT TOP 1 * FROM @Test WHERE flag = 1 ORDER BY [time] ASC
INSERT INTO #Temp SELECT TOP 1 * FROM @Test WHERE flag = 0 ORDER BY [time] DESC
SELECT * FROM #Temp
DROP TABLE #Temp

Screenshot