UPDATES ON 5 JUNE 2008

JUNE 5 THURSDAY

SHORT TERM TREND : BEARISH : TARGET RS 5140

LONG TERM TREND : BULLISH : TARGET RS 5690

S1 RS 5215, S2 RS 5180, S3 RS 5154

R1 RS 5272, R2 RS 5305, R3 RS 5345

PREFER SHORTS AT RS 5265 TO 5270

STOP LOSS RS 5305

TARGET RS 5215

Crude oil fell more than $2 a barrel and gasoline dropped the most

in two months on a larger-than- expected U.S. fuel-supply gain and

signs demand will weaken because of increasing prices.

Crude oil for July delivery fell $2.01, or 1.6 percent, to settle at $122.30

a barrel at 2:43 p.m. on the New York Mercantile Exchange, the lowest

close since May 6. Futures, which reached a record $135.09 a barrel

on May 22, are up 85 percent from a year ago.

Crude-oil inventories fell 4.8 million barrels to 306.8 million barrels

last week. Analysts were split over whether crude-oil supplies rose

or fell in the Bloomberg News survey.