UPDATES ON JUNE 19 2008

JUNE 19 THURSDAY

SHORT TERM TREND : BULLISH ; TARGET RS 572

LONG TERM TREND : BULLISH : TARGET RS 630

S1 RS 564, S2 RS 562, S3 RS 558

R1 RS 567, R2 RS 569, R3 RS 572

PRICES ARE EXPECTED TO MOVE SIDEWAYS TO HIGHER.

Crude oil was little changed in New York after falling more

than $4 a barrel yesterday, the biggest drop since March,

as record prices reduced demand.

Gasoline demand last week was 1.2 percent lower than

the same week last year, the U.S. Energy Department

report yesterday showed. Stockpiles fell 1.6 percent to

206.2 million barrels as refiners kept processing below

year-earlier rates.

U.S. gasoline demand dropped 5.5 percent last

week as prices at the pump reached records,

according to MasterCard Inc., the second-biggest

credit-card company.

Stockpiles of distillate fuels, which include

heating oil and diesel, rose 1.64 million barrels,

or 1.5 percent, to 109.4 million barrels, the Energy

Department said. Heating oil stockpiles rose

2.9 percent to 23.1 million barrels, the fourth

consecutive increase.