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On October 04, three stocks with a market cap over Rs 1000 crore came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest.
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Domestic markets declined nearly 1% amid West Asia tensions and FII outflows, affecting stocks like M&M Financial, Angel One, and Vedanta. Analysts suggest M&M Financial and DMart show bearish patterns, while Vedanta demonstrates a bullish trend with potential for further gains.
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In the NSE list of stocks with a market cap of over Rs 1000 crore, six stocks closed prices crossed above their 200 DMA (Daily Moving Averages) on October 04, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.
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