Jan 12, 2011

Stock recommendations today

The inflation hike will make Bank Indonesia to lift up benchmark interest rate or BI Rate. These factor remains a negative catalyst for Jakarta Composite Index movement today. But, a potential decrease is already limited.
Adding to that, the JCI is open for rebound, despite a positive sentiments from Europe. Several stocks such as INCO, ASII, JSMR, TINS, BDMN, BBRI, and LSIP, could be watched. Here are stock recommendations from several local houses as reported by Bisnis.com today:

Reliance Securities:
We estimate that the JCI is still underpressure from sell-off  and moves to the range of 3,431-3,465. Top picks: INCO, ASII, JSMR, and TINS.
The JCI yesterday was still closed lower 0.67% to 3,455. Forein investors remained in huge net sell position at Rp1.34 trillion.

Panin Sekuritas:
We predict that the Indonesian stock benchmark is still volatile with an estimate of support-resistance levels at 3,402-3,495.
The JCI was fleeting after a steep rebound at the beginning session yesterday. But, the JCI eventually suffered a further drop, dragged down by foreign investors' sell-off. Inflation concern remained the negative for the JCI.

e-Trading Securities:
The JCI drop technically should be limited with the range of 3,400-3,530. Several recommended stocks, BDMN, BBRI, and LSIP. After climbing at the beginning, the JCI dropped on foreign investors' net sell at Rp1.3 trillion.

Sinar Mas Sekuritas:
The JCI today is estimated to be mixed with uptrend level. It is supported by positive sentiments from regional markets as well as higher prices of metals, CPO, and coal. The JCI should move at the range of 3,409-3,525. Recommended stocks: SMGR, GGRM, UNTR, and BSDE.

Disclosure: No position at the stock mentioned above.

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