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.

Jindal Drilling weekly chart

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