UPDATES ON MAY 30 FRIDAY

MAY 30 FRIDAY

SHORT TERM TREND : BEARISH : TARGET RS 483

LONG TERM TREND : BULLISH : TARGET RS 538

S1 RS 490.60, S2 RS 487, S3 RS 483

R1 RS 496, R2 RS 498, R3 RS 502

PREFER LONGS AT RS 495.50 TO 496

STOP LOSS RS 498

TARGET RS 491

Supplies of gasoline were down 3.2 mn barrels while

haeting oil supplies were up 600,000 barrels.

Over the past 4 weeks , gasoline demand was done 0.4 %

from a year ago while distillate demand was up 1.2 %

from a year ago.

The DOE also said that the underground supplies of

gasoline were up 87 bn cubic feet last week to

1.701 trillion cubic feet.

Supplies are now down 16 % from a year ago and

down slightly from the 5 year average.

UPDATES ON 29 MAY 2008

MAY 29 THURSDAY

SHORT TERM TREND : BULLISH ; TARGET RS 521

LONG TERM TREND ; BULLISH ; TARGET RS 538

S1 RS 511.60, S2 RS 509, S3 RS 506

R1 RS 516, R2 RS 519, R3 RS 521

PRICES ARE EXPECTED TO MOVE SIDEWAYS TO HIGHER.

UPDATES

MAY 28 WEDNESDAY



SHORT TERM TREND SIDEWAYS TARGET RS 513 TO 521

LONG TERM TREND BULLISH TARGET RS 538


Prices trading at overbought zone.Wait for support for

fresh entries.

Fuel usage in the US averaged 20.3 mn barrels a day in

the 4 weeks ending may 16 th dowm 1.3 % from a year

earlier.

UPDATES

MAY 23 FRIDAY

SHORT TERM TREND :BULLISH :TARGET RS 512

LONG TERM TREND : BULLISH : TARGET RS 530

Prices are expected to move sideways to higher.

The US Department of Energy said that underground supplies of Natural

Gas were up 85 Billion cubic feet last week to 1.614 Trillion cubic feet.

Supplies are down 16 % from a year ago and slightly below the 5 year

average.

UPDATES FOR 21 MAY

MAY 21 WEDNESDAY


SHORT TERM TREND BULLISH TARGET RS 501

LONG TERM TREND BULLISH TARGET RS 520

S1 RS 485 , S2 RS 468 , S3 RS 464

R1 RS 506, R2 RS 510 , R3 RS 527

Gasoline inventory is expected to rise by 0.4 Mn Barrel and


Distillate by 1 Mn Barrel

NATURAL GAS UPDATES

MAY 20 TH TUESDAY

SHORT TERM TREND : SIDEWAYS : TARGET Rs 461 TO Rs 482



LONG TERM : BULLISH : TARGET Rs 520



S : SUPPORT R :RESISTENCE

S1 :472.50 ,S2 : 468 ,S3 : 466
R1 :478 , R2 :482 , R3 : 486

Natural gas spot prices increased in a majority of regions of the Lower 48 States this report week (Wednesday–Wednesday, May 7-14).The Henry Hub spot price increased $0.43 per million Btu (MMBtu) to $11.51, the highest average price recorded at the Henry Hub in more than 2 years.

As the price of crude reached a record high of $ 125.94 per barrel last Friday Natural gas

traded at $ 11.29 per MMBtu.