Watch Jindal Drilling on 19 July 21′

Jindal Drilling is in my watchlist now. Weekly 20 EMA crossed 200 MA. Watching to see if it sustains. Expecting it to correct and retest Rs 120 -122 levels. It’s movement on 19 July 21′ , will further tell about the behavior of this counter. If it has truly broken out then it will not stop. There is also a possibility of retest to the above mentioned levels. Thereafter can touch Rs 175 levels in medium term, if it sustains and stays above weekly 200 MA. I will observe it’s behavior for 1-2 days before entering with a good stop loss below Rs 120 levels.