Author: Pungky
The Indonesian stock market is still trying to find its balance. After experiencing strong selling pressure in the previous session, the Jakarta Composite Index (IHSG) is entering the last trading days of January in a rather unstable condition. For Friday, January 30, 2026, the market is expected to remain volatile, with limited upside and potential short-term corrections.
This kind of movement isn’t surprising. When the market goes through sharp swings, investors usually slow down, reassess their positions, and wait for clearer signals. As a result, price movements become choppy rather than directional.
Market Still in a Correction Phase
On Thursday’s close, IHSG slipped by around 1% and settled near the 8,230 level. Selling pressure was quite noticeable, supported by relatively high trading volume. This suggests that some investors are still reducing exposure, especially after recent market turbulence.
From a technical perspective, IHSG is still moving within a short-term corrective structure. As long as the index fails to break above nearby resistance levels, the downside risk remains, although the room for deeper decline is starting to narrow.
For today’s session, the correction zone is expected to be around 7,889 to 8,104. If buying interest appears, the index may attempt a rebound toward the 8,323 to 8,527 area. However, this rebound is likely to face resistance rather quickly.
Key Levels to Watch
In uncertain market conditions like this, support and resistance levels play a crucial role.
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Support levels: around 7,985 and 7,762
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Resistance levels: near 8,296 and 8,590
As long as IHSG stays above its main support, a technical rebound is still possible. However, breaking through resistance will require stronger market confidence and better sentiment overall.
Selective Trading Is the Key
The current market environment is not suitable for chasing prices. Instead, investors and traders are becoming more selective, focusing on stocks that are already close to their support areas or showing early signs of accumulation.
The buy on weakness strategy remains the most popular approach right now. Rather than buying aggressively, market participants prefer to enter gradually while keeping risk under control.
Stocks Worth Watching Today
Here are several stocks that stand out for short-term trading or selective positioning:
🔹 Harum Energy (HRUM)
HRUM is still under selling pressure, but technically it is approaching an interesting area for short-term traders.
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Buy on weakness: 1,035 – 1,055
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Target price: 1,130 – 1,175
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Stop loss: below 1,000
This stock suits traders who are comfortable with volatility and disciplined risk management.
🔹 Indosat (ISAT)
ISAT recently showed signs of buying interest, although its price movement remains limited by key moving averages. The stock still needs confirmation for a stronger upward move.
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Buy on weakness: 1,990 – 2,130
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Target price: 2,300 – 2,370
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Stop loss: below 1,950
ISAT fits a cautious trading strategy rather than aggressive entry.
🔹 Sanurhasta Mitra (MINA)
MINA is more suitable for speculative trading. After a recent correction, buying volume has started to appear, indicating potential short-term recovery.
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Speculative buy: 358 – 372
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Target price: 414 – 462
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Stop loss: below 336
Due to higher risk, position sizing should be kept small.
🔹 Telkom Indonesia (TLKM)
Compared to other stocks, TLKM remains relatively stable. It often attracts defensive investors during uncertain market conditions.
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Buy on weakness: 3,350 – 3,440
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Target price: 3,550 – 3,650
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Stop loss: below 3,250
TLKM is suitable for conservative traders who prefer lower volatility.
Alternative Stocks to Monitor
Aside from the names above, several other stocks are also being monitored by market participants, including Indika Energy (INDY), Bank Mandiri (BMRI), and Petrindo Jaya Kreasi (CUAN). These stocks could show interesting movements if market sentiment improves.
However, traders should remain cautious, as overall market direction is still heavily influenced by external sentiment and domestic policy dynamics.
Market Sentiment Remains Fragile
The recent decline in IHSG reflects a market that is still processing multiple factors at once. Policy adjustments, global market pressure, and investor confidence are all interacting, making price movements less predictable.
Although a rebound may occur, it is likely to be technical rather than trend-changing, unless supported by stronger positive sentiment.
Final Thoughts
IHSG is currently in a phase where patience matters more than aggression. The market is still moving up and down, and volatility remains part of the daily routine. For now, disciplined trading, careful stock selection, and realistic expectations are essential.
In times like these, protecting capital is just as important as chasing profit.
Disclaimer:
This article reflects the personal opinion of the author. All investment decisions are the responsibility of the reader. Always do your own research before buying or selling any stock.
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