Five Nifty500 stocks show White Marubozu pattern
UNO Minda is among five stocks that gained more than 8 per cent during the trading session on November 5.
Five stocks from the Nifty500 index appeared in the StockEdge White Marubozu bullish scanner on November 5, according to the Economic Times.
The stocks, which include UNO Minda, recorded gains of more than 8 per cent during the session.
A White Marubozu is a bullish candlestick pattern where the stock reaches its highest price at the close and its lowest price at the open.
This pattern is shown as a long white or green candle that lacks an upper shadow and has minimal to no lower shadow.
The pattern suggests strong buying momentum as prices rise throughout the session to close near their peak.