Steel Authority of India among 3 stocks showing White Marubozu pattern

On September 23, three stocks in the Nifty 500 pack that gained over 5% appeared on the ‘White Marubozu’ bullish scanner, according to technical scan data from StockEdge. 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.

Close: Rs 865.25 | Change (%): 20

Close: Rs 185.44 | Change (%): 6.57

Close: Rs 3,831.9 | Change (%): 5