IHSG Expected to Undergo a Limited Correction; Here Are Today's Analyst Stock Picks

Jakarta, Kompas.com - The Jakarta Composite Index (IHSG) is expected to undergo a correction in trading on Friday 6 March 2026, after the index closed up 1.76% at 7,710 in Thursday’s session. MNC Sekuritas technical analyst, Herditya Wicaksana, estimated the correction area for the IHSG to be between 7,140 and 7,391. The index’s support levels are at around 7,311 and 7,391, while resistance is around 7,934 and 8,154. “We estimate the IHSG is currently in the latter part of wave [y] of wave 4 or wave (2) on the red label. This means the 7,140-7,391 area should be watched as the next correction zone,” Herditya said in his daily analysis. Similarly, Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, assessed that the IHSG is experiencing limited weakness. The index movement is expected to remain within a consolidation range with support at around 7,460 and resistance around 7,860. “Based on technical analysis, we see the IHSG potentially weakening modestly with support and resistance at 7,460-7,860,” Nico said. The shares of PT Archi Indonesia Tbk (ARCI) closed at Rp 1,785 and were recommended a speculative buy. ARCI’s movement is considered to be at the early part of wave (v) of wave [i] of wave 5, indicating potential continuation of the upward trend. The shares of PT Chandra Daya Investasi Tbk (CDIA) closed at Rp 895 with a buy on weakness recommendation. CDIA is currently thought to be in the part of wave (5) of wave {C}, thus still having scope to continue moving higher. The shares of PT Vale Indonesia Tbk (INCO) closed at Rp 6,325 and received a speculative buy recommendation. INCO is considered to be in the phase of wave [a] of wave 2, which is usually the early stage of forming a corrective structure before potential subsequent movement. The shares of PT PAM Mineral Tbk (NICL) closed at Rp 1,060 and recommended buy on weakness. NICL’s movement is expected to be at the start of wave A of wave (B), making accumulation opportunities possible when prices weaken. Meanwhile, Pilarmas Investindo Sekuritas’ stock picks include PT AKR Corporindo Tbk (AKRA), PT Merdeka Battery Materials Tbk (MBMA), and PT Merdeka Gold Resources Tbk (EMAS). Disclaimer: This article is not intended to solicit buying or selling of shares. All recommendations come from securities analysts. Investment decisions are the investor’s responsibility. Please conduct your own due diligence before making a decision.