Bullish marubozu does not have upper or lower shadows, reason being it’s high=close, open=low, when this happens bullish marubozu gets formed. But, this is not always true, you have to give a room of error, it can’t be that perfect, as said need to keep little flexibility with candlestick patterns.
It may have a little shadow above or below the candle. Having said that, this pattern can occur in between any trend, there is no prior fixed bullish or bearish trend needed. A bullish marubozu indicates surge in buying from market participants, they want to buy as every price point.
If it occurs during a price fall, than it may mean that sentiments have changed, and the trend may get change. Let us see how does bullish marubozu appears on a chart.
Take a look at the day chart (ICIC BANK Ltd.), prior to appearance of bullish marubozu the trend was negative, the stock was falling, but there was sudden surge, people started buying the so much so that the rally took place around Rs.386 and it went up to Rs.526, not only as a trader this was the great bet but as as investor it would have been miracle.
If you do not believe in taking more risk, you as a intraday trader could have closed the position same day. Otherwise can carryover to next day as well. The price opened gaped up next day.