Hello,
I hope you are doing well, Well as you said you scored 120 marks out of 400 marks in IPUCET. So your rank would fall around 10,000. With this rank you won't get good college under IPU. You should have at least got your rank below 3000 to get good colleges under IPU. But you can still go for the counselling or try for other good colleges.
I hope you find this information helpful. I wish you all the best for your future.
Good Luck
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