On August 20, seven stocks in the Nifty200 universe appeared on the bullish scanner for the “White Marubozu” pattern, 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 interpret it as a signal that buyers controlled the market from the opening to the closing, often using such patterns to make informed decisions about future price movements.
Stocks that formed White Marubozu on August 20: