UPDATES ON JUNE 21 2008

JUNE 21 SATURDAY

SHORT TERM TREND : BEARISH : TARGET RS 5580

LONG TERM TREND : BULLISH : TARGET RS 6190

S1 RS 5720, S2 RS 5680, S3 RS 5620

R1 RS 5790, R2 RS 5840, R3 RS 5890

PREFER SHORTS AT RS 5780 TO 5790

STOP LOSS RS 5830

TARGET RS 5685

Crude Oil Rises as U.S. Dollar Weakens, Israel Conducts Drill .

Crude oil rose as the weaker dollar enhanced the

appeal of commodities as a currency hedge and the

New York Times reported that Israel held a

rehearsal for a potential bombing attack on

nuclear targets in Iran.

Crude oil for July delivery rose $2.69, or 2 percent,

to settle at $134.62 a barrel at 2:48 p.m. on the New

York Mercantile Exchange. Prices declined 24 cents

this week. Futures climbed to a record $139.89 on June 16.

Brent crude oil for August settlement rose

$2.86, or 2.2 percent, to settle at $134.86 a barrel

on London's ICE Futures Europe exchange. Prices

climbed to a record $139.32 on June 16.