Jakarta – Jakarta Composite Index trade on the weekend had rebounded to close at 3783.628, or rose 77.818 points (2.10%). JCI had touched the 3801 level before finally returning closed below 3800 due to profit taking market participants. The value of foreign net purchases over the weekend rose to Rp.611, 92 billion. Shares of banking, mining, automotive and cement into the motor reinforcement composite index. The improvement in the global market climate and the Asian region has been pushed back buying market participants.
But when viewed during the week down 1.21% yesterday stock index with a value of net foreign purchases reached Rp1, 27 trillion. This attenuation is more influenced by global factors that worsened following the emergence of new uncertainties related to the Greek debt settlement. Fortunately the EU central banks immediately cut its key interest rate by 25 basis points to 1.25% so that it can withstand the fall of the stock market. While U.S. economic data coming out this weekend tends to improve, such as October’s unemployment rate fell to 9% from the previous figure of 9.1%. Increased employment opportunities in the U.S. is encouraging the U.S. economy can avoid a crisis, as many had feared earlier.
Market sentiment is still fixed on the Greek settlement of the debt crisis. Greek PM’s resignation after the controversial referendum proposal to make the market was back on bailout plan uncertainty related to Greece. Amid rising debt settlement back to the uncertainty related to Greece and the improving U.S. economic data, markets will react mixed today. The movement of the index is expected to tend to the consolidation. Opportunities reinforcement can still continue. But wait and see the action expected to be more dominate awaiting the completion of the development of Greece’s debt crisis. Selective buying can be done to the banking sector stocks, retail, energy and infrastructure. JCI likely resistant to the levels in 3820 and the correction is expected to be held in support in 3726.
JCI S 3726 R 3820
Stock options:
EARTH 2300-2425 Buy on Weakness
BMRI 7100-7450 Buy
ADRO 2000-2125 Trading Buy
PGAS 2950-3125 Buy on Weakness
INDF 4900-5400 Buy
BORN 820-950 Buy on Weakness
Buy UNSP 280-300
MAPI 4900-5150 Sell on Strength
BBRI 6700-7000 Buy on Weakness