3 F&O stocks to keep on your radar for today, with Marubozu candle!

Traders frequently interpret Marubozu candles as indications of potential trend continuation or reversal, contingent upon the context and preceding price action.

A Marubozu candlestick is a type of candlestick pattern in technical analysis that indicates strong buying or selling pressure in the market. It is characterized by having little to no wicks (shadows) and a long body, either bullish (green or white) or bearish (red or black), that represents the opening and closing prices for the period.

Traders often interpret Marubozu candles as signals of potential continuation in the direction of the trend or as indicators of potential reversal, depending on the context and the preceding price action.

In this article, we are going to explore 3 F&O stocks that have formed bullish Marubozu candles on the daily timeframe, to keep on the radar for today.

Biocon Limited

Biocon is engaged in the business of manufacturing biotechnology products and providing research services.

Today the shares closed the day at Rs 306.60 per share on the BSE.  It was facing a hurdle or resistance around Rs 290 to Rs 295, which it broke on April 26. Yesterday, it retested the previous resistance levels, creating a good support area. Interestingly, it formed a Marubozu candle on the daily timeframe as shown in the image below.

Petronet LNG Limited

Petronet LNG was formed to develop, design, construct, own, and operate liquefied natural gas (LNG) import and regasification terminals in India.

Today the shares closed the day at Rs 307.65 per share on the BSE. It was facing a hurdle or resistance around Rs 290 to Rs 295, which it broke on April 10. Yesterday, it retested the previous resistance levels, creating a good support area. Interestingly, it formed a Marubozu candle on the daily timeframe, also engulfing the previous day's red candle, as depicted in the image below.

Sun TV Network Limited

Sun TV Network is engaged in producing and broadcasting satellite television and radio software programming in the regional languages of South India.

Today the shares closed the day at Rs 649.85 per share on the BSE. It was facing a hurdle or resistance around Rs 630 to Rs 640, which it broke on April 26. Also, if we notice the chart, it has formed a kind of inverted head and shoulder pattern on the daily timeframe. Yesterday, it retested the previous resistance levels, creating a good support area. Interestingly, it formed a Marubozu candle on the daily timeframe, as depicted in the image below.

Investors must keep these Large-Cap stocks on their radar as they have the potential to provide multibagger returns in the future.

Disclaimer: The article is for informational purposes only and not investment advice.