JAKARTA - Composite Stock Price Index (CSPI) chance corrected despite positive sentiments related to the completion of the fiscal cliff.
Asset Management Analyst Indosurya Fridian Warda said JCI on the early years can move in 4285-4350 range after closing at the end of 2012 up 4316.
"The market is price in [too expensive], it may go up but not too big. Skeptic that I still do not get down the opening of the 4300 psychological level," he said (01/01/2013).
Potential correction occurs in the stock index in early trading after the phenomenon of rising prices at the end of the so-called window dressing.
In addition, he advised investors to wait for the index fell hinggi in 4180 before returning to collect the level of stocks at the beginning of the year although it is possible January effect, the phenomenon of rising stock prices in the first months of each year.
"Do not expect the January effect, investors are advised to wait and see before taking a position," he said (1/1).
On the other hand, Head of Research Universal Broker Indonesia Satrio Utomo said there was optimism for U.S. government policy to address the fiscal cliff after the U.S. Senate voted to prevent tax increases and spending cuts.
"JCI is no chance a technical rally up to 4,400 could be like that but it all comes down to the completion of the fiscal cliff," he said.
Despite the negative sentiment that can withstand the index includes an increase in electricity tariff (TDL) that impact on inflation.
He also explained that the first week of trading in 2013 will determine the movement of the index for the next month and the January effect may occur.
"January effect occurs usually in the third tier stocks, such as the property sector which has experienced a correction in December. Investors usually take profits in December and took a position at the beginning of speculation," he said.
Relating to the mover index, Fridian explain the optimism the U.S. economy recovers, commodity stocks and mining gets a boost after last year's severe correction.
However, he still recommends large-cap stocks for early trading as BMRI, BBRI, PTBA and HRUM.
Related to the new trading hours with effect from January 2, Fridian said trading in Indonesia Stock Exchange will be more active because the closer to the time of the opening of regional markets.
As reported earlier, the first opening of the trading session begins at 9:00 pm or 30 minutes faster than ever and closed more slowly so time is longer.
This new system of trading hours will be preceded by a pre-opening session of the first trading started at 8:45 to 8:55 pm.
While the second session will be open at 13:30 am until 15:50 pm, with no closing price formation. Pre-closing performed at 15:55 to 16:00 pm, 16:00 to 16:05 pm on the closing done, and post-trading at 16:05 to 16:15 pm.
Asset Management Analyst Indosurya Fridian Warda said JCI on the early years can move in 4285-4350 range after closing at the end of 2012 up 4316.
"The market is price in [too expensive], it may go up but not too big. Skeptic that I still do not get down the opening of the 4300 psychological level," he said (01/01/2013).
Potential correction occurs in the stock index in early trading after the phenomenon of rising prices at the end of the so-called window dressing.
In addition, he advised investors to wait for the index fell hinggi in 4180 before returning to collect the level of stocks at the beginning of the year although it is possible January effect, the phenomenon of rising stock prices in the first months of each year.
"Do not expect the January effect, investors are advised to wait and see before taking a position," he said (1/1).
On the other hand, Head of Research Universal Broker Indonesia Satrio Utomo said there was optimism for U.S. government policy to address the fiscal cliff after the U.S. Senate voted to prevent tax increases and spending cuts.
"JCI is no chance a technical rally up to 4,400 could be like that but it all comes down to the completion of the fiscal cliff," he said.
Despite the negative sentiment that can withstand the index includes an increase in electricity tariff (TDL) that impact on inflation.
He also explained that the first week of trading in 2013 will determine the movement of the index for the next month and the January effect may occur.
"January effect occurs usually in the third tier stocks, such as the property sector which has experienced a correction in December. Investors usually take profits in December and took a position at the beginning of speculation," he said.
Relating to the mover index, Fridian explain the optimism the U.S. economy recovers, commodity stocks and mining gets a boost after last year's severe correction.
However, he still recommends large-cap stocks for early trading as BMRI, BBRI, PTBA and HRUM.
Related to the new trading hours with effect from January 2, Fridian said trading in Indonesia Stock Exchange will be more active because the closer to the time of the opening of regional markets.
As reported earlier, the first opening of the trading session begins at 9:00 pm or 30 minutes faster than ever and closed more slowly so time is longer.
This new system of trading hours will be preceded by a pre-opening session of the first trading started at 8:45 to 8:55 pm.
While the second session will be open at 13:30 am until 15:50 pm, with no closing price formation. Pre-closing performed at 15:55 to 16:00 pm, 16:00 to 16:05 pm on the closing done, and post-trading at 16:05 to 16:15 pm.
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