JAKARTA - The Composite Stock Price Index (JCI) will move consolidatively today, Tuesday, September 24. Phintraco Sekuritas estimates that the JCI will move in the resistance range of 7,800, pivot 7,750, and support 7,700 today.

"Today's JCI is estimated to be consolidative in the range of 7,700-7,800 and in the future," wrote Phintraco Sekuritas in his research.

From external, Phintraco Sekuritas said, the market is looking forward to a lot of important economic data in the United States (US), including the property price index and consumer confidence. In addition, the market also observed the speeches of two high-ranking Fed officials, namely Kashkari and airshed on Tuesday.

Still from the US and Europe, the slowdown in manufacturing activity in September was eased by the Fed and ECB's aggressive rate cuts, added Phintraco Sekuritas.

From the region, Phintraco Sekuritas said, India reportedly closed the opportunity to join the Regional Comprehensive Economic Partnership, which currently consists of 15 Asian-Pacific countries and reflects 30 percent of the world's GDP.

"Still from the region, the pressure for the Chinese government to increase economic stimulus is getting bigger than a number of economists," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends five shares for today, namely ESSA, ISAT, INCO, PGEO and ASSA.


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