On January 1, in the NSE list of stocks with a market cap over Rs 10,000 crore, four stocks came to the bullish scanner of “White Marubozu”, according to stockedge.com’s technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest.
Represented by a long white (or green) candlestick with no upper shadow and a small or non-existent lower shadow, it indicates strong buying pressure throughout the session. Traders interpret it as a signal that buyers were in control from the opening to the closing, often using such patterns to assess potential future price movements.