Market outlook
Monday, July 7

Indonesia share are likey to trade in a consolidation mode given an absence of fresh leads frm the domestic economy. Overall sentiment should remain cautious, waiting for a confirmation whether the main index has already passed its critical zone or it is still approaching a bear market. The main index could go up and down by 19 points.
Main index: 2276-2329

TLKM: 7,250-7,600. -t may be stuck within this range but may be gradually finding its strong ground for a take off. I still go with buy on weakness or at any level below IDR7300.

ISAT: 6,200-6,800. Qtel can only buy up to 8.2 pct stake of indosat from the public via a tender offer. Buy on weakness.

BUMI: 7250-7900. It may be trading wider than the previous sessions. Coal prices have so far tended to continue to go up given supply shortage. !reakout level now is at IDR7,700. Buy on weakness.

INDY: 3,250-3,500. Foreign fresh funds are likely aiming these shares for mid term investment. Buy at any level

PTBA: 15,600-16,800. It may be trading wide but is fragile for profit taking if it fails to break above IDR16,400. Sell on strength.

Indf: 2,200-2,450. It is now in an oversold area. Fundamentals are sound with margin likely improving given the company's ability in passing on the increase in operation expenses to its customers. Buy on weakness

Special mention:
Inkp: 2,800-3,400. It's all about the return if a healthy busoness and low valuation. 12-month target is at
IDR4,800. Buy on weakness

Monitoring:
Tbla: 660-780
Brpt:1810-1,990
Spma: 380-440
Jprs: 600-1200