JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on July 21 trading. JCI opened higher by 0.15 percent or 7.79 points to the level of 5,058.89.
Opening trades, 59 stocks rose, 25 stocks fell, and 50 shares remained stagnant. The trading volume was recorded at 53.54 million shares and transacted for IDR 20.87 billion.
Reliance Sekuritas Indonesia analyst Lanjar Nafi projects that the JCI will strengthen today. "There is potential for strengthening, so there is a chance to go to the nearest resistance," said Lanjar in his research.
Based on technical analysis, he predicts the index will move at the resistance level of 5.076 and support at 4,994.
He also recommended a number of shares such as PT Kalbe Farma Tbk (KLBF), PT Bank CIMB Niaga Tbk (BNGA), and PT Mitra Keluarga Tbk (MIKA). In addition, PT Astra Agro Lestari Tbk (AALI), PT Semen Indonesia Tbk (SMGR), and PT Sarana Menara Nusantara Tbk (TOWR).
Likewise, Binaartha Sekuritas analyst, M. Nafan Aji Gustama said, JCI will strengthen today. According to Nafan, there is potential for strengthening in the JCI movement, so that the index has the opportunity to go to the closest resistance level.
Technically, Nafan explained, currently JCI has the first and second support at 4,975 and 4,865 levels, while the first and second resistance targets are at 5,097 and 5,172 positions.
He further stated that the potential for a technical rebound in the JCI rate today could be responded to by market players by accumulating the purchase of shares of PT Adhi Karya Tbk (ADHI), PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM), PT Bumi Serpong Damai Tbk (BSDE), PT Charoen Pokphand Tbk (CPIN), PT Pakuwon Jati Tbk (PWON), PT Waskita Beton Precast Tbk (WSBP), and PT Wijaya Karya Beton Tbk (WTON).
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