NBCC among five Nifty500 stocks showing White Marubozu pattern
Five stocks recorded gains of more than 6 per cent on November 2, according to technical scan data from StockEdge.
NBCC was among five Nifty500 stocks that appeared on the ‘White Marubozu’ bullish scanner on November 2, according to technical scan data from StockEdge.
The identified stocks each recorded price gains exceeding 6 per cent during the session, as reported by The Economic Times.
In technical analysis, a White Marubozu is a bullish candlestick pattern where the session's opening price is the lowest and the closing price is the highest.
This pattern is shown by a long white or green candlestick that lacks an upper shadow and has minimal to no lower shadow.
The pattern indicates strong upward price momentum, as the price moves from the opening level toward the session high by the close.