Check out the stocks showing bullish signs with a ‘bald head’


by 5paisa Research Team Last Updated: Dec 13, 2022 - 12:06 am 23.7k Views
Listen icon

The Indian stock market has been trying to build a bottom after sinking nearly 15% from the peak but fell again on Wednesday, before opening slightly higher on Thursday.

On the one hand, investors are worried about rising interest rates in India and the US. On the other, high crude oil prices due to the Russia-Ukraine war are increasing cost pressures on companies.

Investors looking at charts and price and volume patterns have various parameters to decide whether a stock is ripe for the pick or is showing signals of past activity that is best left untouched.

One such parameter is ‘white marubozu’, which means white bald head in Japanese. This is a one-day bullish pattern with a tall white candle with no shadows. The pattern shows that buyers controlled the trading day from open to close, and is seen as a bullish pattern. It signals a bullish pattern overall.

If we use this parameter and pick stocks from Nifty 500, we get nine companies. These are IDFC, Alok Industries, KPIT Technologies, Grindwell Norton, Petronet LNG, Indian Hotels, Astral, Jindal Steel & Power and Bharti Airtel.

We also looked beyond the Nifty 500 to check stocks with a market cap of Rs 500 crore and above that meet this parameter.

This list includes companies such as Apollo TriCoat Tubes, GRM Overseas, Shaily Engineering, Shriram Pistons, Veranda Learning, Sportking India, Nahar Spinning Mills, Lloyds Steels Industries, Foseco India, Nahar Poly Films, Ultramarine & Pigments, Entertainment Networks, Automotive Stampings, Timex Group India, Orient Green Power, Rajnish Wellness and ASM Technologies.

Finally, we also checked lower down the stack in the set of companies with a market cap of between Rs 100 crore and Rs 500 crore. There are three dozen names in this list.

These stocks include Hubtown, Genus Paper & Boards, Veritas (India), Mafatlal Industries, IndiaNivesh, Bombay Oxygen, SPML Infra, Vadilal Enterprises and Visa Steel.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Lokesh Machines Share Price Rose 4.48% on Arms License

Lokesh Machines share price surge by over 10% in early trading on Thursday after the announcement of receiving an Arms Licence from the Ministry of Home Affairs. The stock initially rose to a high of ₹395.00 on the BSE, marking a gain of 10.7%.

T+0 Settlement Begins Today: Here's How it Impacts You!

Starting today, India's stock market is introducing the same-day transaction settlement system known as "T+0." This system allows for transactions to be settled on the same day they oc