UPDATES ON JULY 18 2008

JULY 18 FRIDAY

SHORT TERM TEEND : BEARISH : TARGET RS 432

LONG TERM TREND : BULLISH TARGET RS 630

S1 RS 453 , S2 RS 448, S3 RS 444

R1 RS 468, R2 RS 462, R3 RS 465

Natural gas tumbles 8% after inventories data

Natural-gas futures tumbled 7.6% Wednesday after

government data showed U.S. inventories gained more

than expected.

U.S. natural-gas inventories rose 104 billion cubic feet in

the week ended July 14, the EIA reported Thursday.

Analysts at Global Insight had been expecting a buildup

of 86 billion cubic feet.

After the data, natural-gas futures for August delivery tumbled

86.1 cents, or 7.6%, to close at $10.54 per million British thermal

units. Earlier, it fell to an intraday low of $10.46, down 8.2%. .

At 2,312 billion cubic feet, natural-gas stocks were 361 billion

cubic feet less than last year at this time and 49 billion cubic feet

below the five-year average of 2,361 billion cubic feet, the EIA said.