On October 16, among NSE-listed stocks with a market cap above Rs 10,000 crore, four stocks appeared on the bullish “White Marubozu” scanner, according to StockEdge.com’s technical scan data.
A White Marubozu is a bullish candlestick pattern in technical analysis, occurring when the opening price is the lowest of the period and the closing price is the highest. Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session. Traders often interpret it as a signal that buyers controlled the market from open to close, using the pattern to make informed decisions on potential future price movements.
Stocks forming White Marubozu on October 16: