UPDATES ON JUNE 6 FRIDAY

JUNE 6 FRIDAY

SHORT TERM TREND : BULLISH : TARGET RS 5475

LONG TERM TREND : BULLISH ; TARGET RS 5490

S1 RS 5345, S2 RS 5310, S3 RS 5275

R1 RS 5395, R2 RS 5426, R3 5475

WAIT FOR SUPPORT FOR FRESH LONG.


Oil continued higher towards $130 a barrel on Friday, extending the

previous session's record-breaking one-day rise as the U.S. dollar

slumped on signals the European Central Bank may raise interest

rates later this year.
At 10:12 a.m., New York-traded WTI crude for July delivery was up $1.76


at $129.55 a barrel. On Thursday, the contract staged a dramatic



turnaround, bouncing over $6 off its intraday low of $121.61 to close

above $127 a barrel.

In London, Brent crude for July delivery was up $1.41 at $128.95 a barrel.

Crude prices have been closely linked to the dollar in recent months,

as falls in the greenback make dollar-priced commodities cheaper for

holders of other currencies while also encouraging investors to buy

hard assets like oil as a financial hedge.