JAKARTA: The Jakarta Composite Index is believed to to continue rally but in limited range on increasing profit taking after the index touched new high. Trimegah Securities suggests the investors to anticipate the profit taking and selling pressure on several bluechip shares after supporting the index in teh last three trading days."The index is in overbought area and shows limited range for another gain. The index may move negative way as it tests support level at 3,920-3,890 and if it fails to stay at support level of 3,950-3,955. Please consider ASII, BBRI, and BBCA," it said.Minna Padi Investama sees the potential for the index to realize limited gain as profit taking will influence today's trading, particularly on shares of banking sector and Astra group. It suggests PGAS, HRUM, and INCO. Sinarmas Sekuritas says that technically the index will gain stronger to around 3,940-3,975 today with recommended shares like KLBF, SMRA, HRUM, and ROTI.Panin Sekuritas, in the meantime, suggests investors to buy on shares of consumption sector, property and infrastructure as the index enters overbought area.Overbought index is also a concern for e-Trading Securities, thus expecting the index to consolidate today."It will move between 3,923-3,983 with recommended shares KIJA and SMRA."Reliance Securities targets the index to touch 3,978 with support level at 3,919. It recommends 'buy' on shares like ADRO, BBCA, BMRI, and INDF. (NOM)
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