Bajaj Electricals Limited is engaged in engineering and projects; power distribution, illumination and consumer durables businesses.It has a range of domestic and kitchen appliances comprising water heaters, room heaters, coolers, irons, mixers, induction cookers, toasters, kettles, microwave, rice cookers, gas stoves, non-electrical kitchen aids and pressure cookers.It offers ceiling, table, pedestal, wall, fresh air and industrial fans, and lighting solutions, such as light sources, light emitting diode-based lighting products, domestic luminaires, torches and lanterns.

Key Highlights of Company Business

Segments and ProductsThe Company's business segments consist of Lighting; Consumer Durables; Engineering & Projects, The Lighting segment includes lamps, tubes and luminaries.The Consumer Durables segment includes appliances and fans.The Engineering & Projects segment includes transmission line towers, telecommunications towers, highmast, poles and special projects.The Others segment includes diecasting and wind energy.

Andrew Pitchfork Indicator

The Andrew pitchfork is a technical indicator used to analyse the stock market.
It consists of three parallel lines along the trend which can be used to identify the support level, resistance level and the breakout price.
These lines are drawn by placing points at three consecutive peaks and troughs.
Using the points at three locations, mark the mid points at the same place and join them to get the midline.
Draw two parallel lines, one above and one below the midline to get the upper and lower lines which represent the support and resistance level.

Before entering the trade, traders should check that the price is stalling between the support and the resistance lines.
Also, the price should continuously cross the median line to ensure the upward or downward trend. If it doesn’t happen, it indicates that there is an acceleration in the trend and a steep rally is seen.
If the stock trades between the lines, traders can enter the market and initiate their long position if there is a bullish rally and a short position if there is a bearish rally.
Few traders can earn quick profits by initiating short positions when the price reaches the resistance level and a long position when the price reaches the support level.
Often Andrew’s pitchfork indicator is used with few other indicators like the on-balance volume (OBV) indicator to identify the strength of the trend.
The main limitation of this indicator is that it depends solely on the three points marked at the beginning. So, if the trader is inexperienced, he might mark a few incorrect points and the indicator leads to false results. Hence, using Andrew’s pitchfork indicator requires experience in marking the points.