*MARKET SUMMARY*

KB VALBURY SEKURITAS 
Monday, 20 March 2023


HEADLINE NEWS
• Banking - Feb23 loan growth at 10.64% yoy
• SSIA - Preparing IDR1.6tn for Subang city infrastructure
• MTEL - Eyes 11% growth revenue in 2023
• ZONE – Aims for 15% sales growth in 2023
• JSMR – Pays off IDR1.1 tn bonds in 2023
• BMHS – Sets aside IDR200 bn for 2023 capex
• TRIS – FY22 revenue rise 36.38% yoy

VIEW MARKET  
 Dow end nearly 400 pts lower as fears over the banking sector’s slump continues, despite joining forces from BA, Wells Fargo, Citi and JPM would contribute as part of the rescue plan for First Republic Bank. Market expectations on roller-coaster risk and investor sentiment resumes and represented on mounting VIX index by 10.96% in a single day to 25.5 and closes to its year to date highest at 26.5 in March 13th. European market remains feel the contagion effect pain, with benchmark indexes across the region nosedive and closed in red territory, amid news on UBS that offers to buy Credit Suisse for up to USD1bn. Commodity market could not be better with oil traded to 15month low, while gold showed meteoric rise by 3.68% reflecting bank fears stays on the downhill track. 

From Asia Pacific market, most of the benchmark indexes in the region end in the green zone reflecting to several news on an effort to reinforce confidence in the US banking system. Meanwhile from domestic market, Jakarta Composite end 112.5pts higher on optimism over latest update from Wall Street banks steps to shore up the banking system. All eyes are on next week Fed interest rate decision which is expected to approve 25bps rate hikes. Amid the continuing believe that systematic risk is unlikely infecting Asian banks and domino impact seems limited, we might see another pressure on today trading reflecting market turmoil, most of latest inline economic data until end of march has been released and lack of market catalyst.       
                                                
                                            
Technical View
Support Level     6623/6568/6539
Resistance Level   6708/6738/6793
Major Trend         Up
Minor Trend         Down
Pattern :                Down to Up (+)

TRADING IDEAS : 
These recommendations based on technical and only intended for one day trading

*TLKM*: Buy on Weakness
• *Close 4050, TP 4090*
• Entry price at *4010-4050*
• Resistance level at *4090* & support at *4010*
• Beware if the price exceeding *4010*
• Stoploss level at *3930*

*ASII*: Buy on Weakness
• *Close 5850, TP 5950*
• Entry price at *5750-5850*
• Resistance level at *5950* & support at *5750*
• Beware if the price exceeding *5750*
• Stoploss level at *5550*

*BBNI* : Buy on Weakness
• *Close 8950, TP 9100*
• Entry price at *8875-8950*
• Resistance level at *9100* & support at *8875*
• Beware if the price exceeding *8875*
• Stoploss level at *8650*

*BBRI*:  Buy on Weakness
• *Close 4730, TP 4780*
• Entry price at *4690-4730*
• Resistance level at *4780* & support at *4690*
• Beware if the price exceeding *4690*
• Stoploss level at *4600*

*INDF*:  Buy on Weakness
• *Close 6150, TP 6250*
• Entry price at *6100-6150*
• Resistance level at *6250* & support at *6100*
• Beware if the price exceeding *6100*
• Stoploss level at *5950*

*ANTM*:  Buy on Weakness
• *Close 1795, TP 1850*
• Entry price at *1760-1795*
• Resistance level at *1850* & support at *1760*
• Beware if the price exceeding *1760*
• Stoploss level at *1670*

*TP : Target Price




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