IDX rally continues, next resistance at 6.100 to be taken out
Although clobbered by sellers from the bear camp emerging taking money off the table on daily overbought conditions, aggressive buying in big cap index drivers and second liner items from anxious bulls has capped further downside and strengthened the basis for a further excursion rally to 6.100 and above.
Support: 5.890-5.840-5.810-5.745-5.650, Resistance: 6.100-6.250-6.350
Stock picks: (BUY: BNGA, TLKM, DOID, BSDE)
- Bank Niaga (BNGA) (Trading target: Rp.1.400-1450)
Entry (1) Rp.1.285, Entry (2) Rp.1.276, Cut loss point: Rp.1.235
- Telekomunikasi (TLKM) (Trading target: Rp.4.850-5.050)
Entry (1) Rp.4.650., Entry (2) Rp.4.580, Cut loss point: Rp.4.490
- Delta Dunia (DOID) (Rp.1.020-1.120)
Entry (1) Rp.945, Entry (2) Rp.925, Cut loss point: Rp.890
- Bumi Serpong Damai (BSDE) (BUY) (Trading Target: Rp.1.850-1.950)
Entry (1) Rp.1.790, Entry (2) Rp.1.760, cut loss point: Rp.1.730
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Yuganur Wijanarko Senior Research
