UPDATES ON JULY 10 2008

JULY 10 THURSDAY

SHORT TERM TREND : SIDEWAYS: TARGET RS 5830 TO 5970

LONG TERM TREND : BULLISH: TARGET RS 6460

S1 RS 5840, S2 RS 5790, S3 5735

R1 RS 5927, R2 RS 5967, R3 RS 6015

PREFER INTRA DAY SHORTS AT RS 5927 TO 5932

STOP LOSS RS 5967

TARGET RS 5840

Crude Oil Rises as Traders Decide Prices Fell Too Far, Too Fast .

Crude oil rose in New York as traders purchased

contracts after deciding that prices fell too far,

too fast over the previous two days.

Oil has dropped 6.3 percent since reaching a

record $145.85 a barrel on July 3.

Crude oil for August delivery rose as much as 85 cents,

or 0.6 percent, to $136.90 a barrel in after-hours electronic

trading on the New York Mercantile Exchange. It was at

$136.69 a barrel at 9:14 a.m. Singapore time. Yesterday,

futures rose 1 cent to settle at $136.05 a barrel. Prices are

up 88 percent from a year ago.

Brent crude oil for August settlement rose as much at 88

cents to $137.46 a barrel on London's ICE Futures Europe

exchange and was trading at $137.29 at 9:11 a.m. Singapore

time. It rose 15 cents to settle at $136.58 a barrel yesterday.

Prices climbed to a record $146.69 on July 3.