No interest for chiken....

Leon · 1 No interest for chiken.... Wed Sep 26, 2012 5:29 pm

Leon

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Hi Guys...

Why there's no interest for GRAN??? Is it because I got couple of thousand of GRAN??? I'm bit worried now. Is over valued at the moment??
There were few posts predicting a chicken rally lately. What u guys say???

Thanks

Sudarshen · 2 Re: No interest for chiken.... Wed Sep 26, 2012 5:52 pm

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May be people are going to be vegetarians !!!!

Wait with patient, it will pay you last...

Market.Player · 3 Re: No interest for chiken.... Wed Sep 26, 2012 6:50 pm

Market.Player

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Today I saw few interesting to BFL at 180.00

Slstock · 4 Re: No interest for chiken.... Wed Sep 26, 2012 6:58 pm

Slstock

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Market.Player wrote:Today I saw few interesting to BFL at 180.00

BFL selling today will help cool down it's over bought status in the past few days.

traderathome · 5 Re: No interest for chiken.... Wed Sep 26, 2012 10:06 pm

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Good thing so far sellers are willing to go below 180ish and BUYERS are happy to collect @ 180....no complains......... Very Happy

For me upside is 215 min....SLS..whats your thought....

TAH

Slstock · 6 Re: No interest for chiken.... Thu Sep 27, 2012 1:10 am

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traderathome wrote:Good thing so far sellers are willing to go below 180ish and BUYERS are happy to collect @ 180....no complains.........

For me upside is 215 min....SLS..whats your thought....

TAH

To me on I saw it as over bought on technicals last few days. Yesterday dip made it on going out of overbought. If this market trend remains bearish ( forget the ASI index gimmics but is it still on the sideways ) due to end of month we can see further dips due to those who bought below Rs 150. So for short term traders stop loss might work around Rs 150-160 . But if this stay above Rs 170 and involves buyers to meet sellers this can go over another 20% if/when market add further momentum. I said IF and CAN ( chicken haters) I recall right before the last bull run, there was collection around this price range. I am not saying it will be like last bull run as earnings and environment is different at this time. ( there must be lot of people who still bought this at Rs 250 - Rs 300+ from the last run.)

traderathome · 7 Re: No interest for chiken.... Thu Sep 27, 2012 7:03 am

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slstock wrote:

traderathome wrote:Good thing so far sellers are willing to go below 180ish and BUYERS are happy to collect @ 180....no complains.........

For me upside is 215 min....SLS..whats your thought....

TAH

To me on I saw it as over bought on technicals last few days. Yesterday dip made it on going out of overbought. If this market trend remains bearish ( forget the ASI index gimmics but is it still on the sideways ) due to end of month we can see further dips due to those who bought below Rs 150. So for short term traders stop loss might work around Rs 150-160 . But if this stay above Rs 170 and involves buyers to meet sellers this can go over another 20% if/when market add further momentum. I said IF and CAN ( chicken haters) I recall right before the last bull run, there was collection around this price range. I am not saying it will be like last bull run as earnings and environment is different at this time. ( there must be lot of people who still bought this at Rs 250 - Rs 300+ from the last run.)

sorry hijack the thread.... bounce

just saw your reply this morning..and i suggested 140 as a safe stop loss on HPP thread with the chart.....i need to rephrase the wording as "Sellers are not willing to go below" instead sellers are willing... Very Happy

i think we both agree of a good profit take would be in 280-300. the B/O need to occur around 190-200 if i remember correct.

So coming days/weeks will give a good opportunity all of us in general, if the positive sentiment gathers momentum breaching 6000 barrier on ASI..... Very Happy

TAH

hariesha · 8 Re: No interest for chiken.... Thu Sep 27, 2012 9:54 pm

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I think chickens are bit tricky these days. If market become bullish chances are there to earn. But don't expect good profits from chicken companies, in the current quarter. It's one of the industries that are highly affected by the ongoing drought.

So profits in TAFL and GRAN are highly doubtful. BFL profit for the June quarter was 1/3 of the March quarter profits. So it's highly unlikely for BFL to report extra ordinary profits in September.

If valued on PER basis BFL is currently at 14.5 X based on June quarter earnings. TAFL PER is negative. GRAN is @ 2.5X, but GRAN profits came from other income. Core business is at a loss in June. On PBV basis all are above 1.5X.

I haven't done any analysis on TA basis as I am not a believer in TA.

So playing chicken at this moment is bit tricky and bit risky.