AIIL a bounce play; Coforge, Jubilant Food in downtrend, show tech charts

Technical stock picks by Drumil Vithlani of Bonanza: AIIL shows rebound potential near key support with 5 per cent upside target, while Coforge and Jubilant Foodworks remain in strong downtrends

Bonanza Portfolio suggests stocks to avoid, sell today, Feb 12:

 

Authum Investment & Infrastructure Ltd 

AIIL share price is trading below its 20/50/100-EMAs and struggling to hold above the rising long-term trendline, indicating short-term weakness within a broader uptrend. Price rejection near the 600–620 zone and falling RSI near 40 suggest momentum is still soft, but the trendline support around 495–500 is critical. A bounce from this zone can trigger a relief move toward the EMA cluster. Traders can consider a buy near current levels with a strict 2.5-per cent stop-loss below support. Upside targets are 5 per cent from entry, with potential extension if price reclaims the 20-EMA with volume confirmation. 

Coforge Ltd 

Coforge share price remains in a strong downtrend, forming consistent lower lows and lower highs. It has broken key support levels on both the daily and weekly time frames, reinforcing the overall bearish structure. Coforge stock price is trading below all major EMAs (20, 50, 100, 200), confirming short-, mid-, and long-term weakness. RSI stands at 32.66, below its 14-period average of 40.77, indicating sustained selling pressure and continued downside momentum. Fresh entries should be avoided. Investors already holding the stock may consider exiting if it sustains below the 1,525-level to manage risk effectively.

Jubilant Foodworks Ltd 

Jubilant Foodworks share price continues to remain under strong bearish pressure on the weekly chart, making it unsuitable for fresh buying at current levels. The stock has been forming a consistent lower-high, lower-low structure for several months, clearly indicating a sustained downtrend. It recently broke below key support levels around 580–600 and is now struggling to reclaim any major moving averages, all of which are trending downward.

 

The descending trendline remains intact, showing no sign of a breakout or reversal. Momentum indicators such as RSI hover near the lower range, reflecting weak strength without any bullish divergence. Volumes also do not support a trend reversal, suggesting that selling pressure still dominates. Unless Jubilant Food stock convincingly breaks above the 580–600 resistance zone with strong volumes, the broader trend is expected to remain negative. Therefore, fresh buying should be avoided, and traders should wait for a clear trend reversal or a sustained close above key resistance levels before considering long positions.

   

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Disclaimer: Drumil Vithlani is a technical research analyst at Bonanza Portfolio. Views expressed are his own.