Mahindra & Mahindra among 5 stocks showing White Marubozu Pattern

Detailed summary

Five stocks in the Nifty500 with a change of more than 5% appeared on the ‘White Marubozu’ bullish scanner, according to StockEdge’s technical scan data.

On November 11, five stocks in the Nifty500 with a change of more than 5% 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.

Opening of the article, excerpted from The Economic Times. To read the rest, open the article on the publisher's site.