Five Nifty 50 stocks show White Marubozu pattern
Bharat Electronics is among five stocks that gained more than 3 per cent according to technical scan data from StockEdge.
Five stocks within the Nifty 50 index appeared on the StockEdge White Marubozu bullish scanner on November 4, according to the Economic Times.
These stocks, which include Bharat Electronics, recorded gains of more than 3 per cent during the session.
In technical analysis, a White Marubozu is a bullish candlestick pattern where the session's lowest price is the opening price and the highest price is the closing price.
The pattern is shown as a long white or green candlestick that has no upper shadow and minimal to no lower shadow.
This pattern indicates strong upward price movement, suggesting that buyers maintained control from the start of the session until the close.
Traders often monitor this pattern as a sign of bullish momentum.