IHSG Expected to Strengthen to 6,450-6,470, KLBF and RATU Among Top Picks

The Jakarta Composite Index (IHSG) is projected to strengthen within the 6,450-6,470 range in today’s trading session, Friday (March 21, 2025). Some of the recommended stocks include KLBF, JSMR, and RATU.

Based on data from the Indonesia Stock Exchange (IDX), IHSG gained 1.11% or 70.01 points, closing at 6,381.67 on Thursday (March 19, 2025). However, the index remains down 9.86% year-to-date (YTD).

According to Head of Research at Phintraco Sekuritas, Valdy Kurniawan, IHSG's resistance level today is at 6,460, while support is at 6,270.

"IHSG has the potential to continue its minor bullish reversal with the next target in the 6,450-6,470 range. Technically, the index has already surpassed the 6,370 rebound target from yesterday’s trading," said Valdy on Friday (March 21, 2025).

Regulatory Support & Market Risks

Valdy added that the market is still undergoing a normalization phase after experiencing heuristic bias on Tuesday (March 18, 2025). Various measures have been implemented by regulators and the government to restore investor confidence.

The Financial Services Authority (OJK) introduced a policy allowing stock buybacks without requiring a General Meeting of Shareholders (RUPS) to stabilize the market. Meanwhile, the government is also seeking to boost investor confidence through a potential meeting between President Prabowo and Indonesian stock market investors.

Despite these efforts, Valdy cautioned that a pullback risk still looms over IHSG ahead of the weekend, with external factors such as high interest rates remaining a major challenge.

Federal Reserve (The Fed) Chairman Jerome Powell warned that trade tariffs could slow inflation reduction in 2025, thereby limiting The Fed’s ability to cut interest rates.

For today’s trading session, Phintraco Sekuritas’ top stock picks include KLBF, JSMR, ASII, TAPG, and RATU.