On October 1, three stocks with a market cap over Rs 10,000 crore showed a White Marubozu pattern. This bullish signal appeared on the StockEdge scanner for Augmont Enterprises and others. The pattern showed strong upward price movement, as the opening price stayed the lowest and the closing price hit high.
On October 1, three stocks with market cap over Rs 10,000 crore appeared on the ‘White Marubozu’ bullish scanner, according to StockEdge’s technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis that occurs when the opening price is the lowest for a given period and the closing price is the highest. The pattern is represented by a long white (or green) candlestick with no upper shadow and little or no lower shadow. It reflects strong upward price movement during the session, with the price moving from the opening level toward the session high by the close. The pattern is commonly studied in technical analysis as an indicator of price momentum.