Update Top 1 record in table sql server

My Query

UPDATE TOP (1) TX_Master_PCBA  
SET TIMESTAMP2 = '2013-12-12 15:40:31.593'
WHERE SERIAL_NO IN ('0500030309') 
ORDER BY TIMESTAMP2 DESC 

with serial_No Column in TX_Master_PCBA table i have 10 records but i want to update the latest TIMESTAMP2 to current datetime.

the above query is throwing error :

> Incorrect syntax near the keyword 'TOP'.

WITH UpdateList_view AS (
  SELECT TOP 1  * from TX_Master_PCBA 
  WHERE SERIAL_NO IN ('0500030309') 
  ORDER BY TIMESTAMP2 DESC 
)

update UpdateList_view 
set TIMESTAMP2 = '2013-12-12 15:40:31.593'

Accepted answer of Kapil is flawed, it will update more than one record if there are 2 or more than one records available with same timestamps, not a true top 1 query.

	;With cte as (
					SELECT TOP(1) email_fk FROM abc WHERE id= 177 ORDER BY created DESC   
			)
    UPDATE cte SET email_fk = 10

Ref Remus Rusanu Ans:- https://stackoverflow.com/questions/3860975/sql-update-top1-row-query#

UPDATE TX_Master_PCBA
SET TIMESTAMP2 = '2013-12-12 15:40:31.593',
G_FIELD='0000'
WHERE TIMESTAMP2 IN 
(
   SELECT TOP 1 TIMESTAMP2
   FROM TX_Master_PCBA WHERE SERIAL_NO='0500030309'
   ORDER BY TIMESTAMP2 DESC   -- You need to decide what column you want to sort on
)

When TOP is used with INSERT, UPDATE, MERGE, or DELETE, the referenced rows are not arranged in any order and the ORDER BY clause can not be directly specified in these statements. If you need to use TOP to insert, delete, or modify rows in a meaningful chronological order, you must use TOP together with an ORDER BY clause that is specified in a subselect statement.

TOP cannot be used in an UPDATE and DELETE statements on partitioned views.

TOP cannot be combined with OFFSET and FETCH in the same query expression (in the same query scope). For more information, see http://technet.microsoft.com/en-us/library/ms189463.aspx

For those who are finding for a thread safe solution, take a look here.

Code:

UPDATE Account 
SET    sg_status = 'A'
OUTPUT INSERTED.AccountId --You only need this if you want to return some column of the updated item
WHERE  AccountId = 
(
	SELECT TOP 1 AccountId 
	FROM Account WITH (UPDLOCK) --this is what makes the query thread safe!
	ORDER  BY CreationDate 
)

It also works well ...

Update t
Set t.TIMESTAMP2 = '2013-12-12 15:40:31.593'
From
(
    Select Top 1 TIMESTAMP2
    From TX_Master_PCBA
    Where SERIAL_NO IN ('0500030309')
    Order By TIMESTAMP2 DESC
) t