JCI Is Surrounded By Various Sentiments At The Beginning Of The Week, Check Out Today's Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed trading last weekend, Friday, August 8, with an increase of 43.20 points or 0.58 percent to the level of 7,533. Even so, the JCI weekly still weakened slightly by 0.06 percent.

MNC Sekuritas analyst Herditya Wicaksana estimates that the JCI is prone to correction to the support of 7,490 and resistance to 7,579 in today's trading, Monday 11 August.

The sentiments that will affect the JCI include the release of Chinese inflation, the movement of the rupiah exchange rate and gold,

"As well as the flow of foreign funds after the announcement of the rebalancing of Morgan Stanley Capital International (MSCI)," said Herditya.

Senior Market Analyst Mirae Asset Sekuritas Nafan Aji Gusta projects the JCI support level this Monday to be in the ranges of 7,428 and 7,358, while resistance levels are at 7,585 and 7,659.

According to him, the JCI movement next week will be influenced by the dynamics of implementing US reciprocal rates, as well as the development of US inflation which will be of concern, especially data on the United States Consumer Price Index (CPI).

"Although it is estimated that there is still inflationary pressure, market participants remain optimistic that the Fed has the opportunity to lower the benchmark interest rate by 25 bps as early as in September," Nafan explained.

For domestic sentiment, market participants will wait for Indonesia's retail sales data which is projected to still record growth.

The stocks recommended today are EXCL, TLKM, JKON, PWON, and AADI.