UPDATES ON JUNE 18 2008

JUNE 18 WEDNESDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 78.50 TO 82.50

LONG TERM TREND : BEARISH : TARGET RS 65

S1 RS 78.60, S2 RS 77.50 , S3 RS 76

R1 RS 81,20, R2 RS 82.60, R3 RS 84

PREFER INTRADAY LONG AT 78.60 TO 78.50

STOP LOSS RS 77.60

TARGET RS 81.20

Lead was trading at $ 1850 a tonne from $ 1861 .

Metal inventories are set to remain well below

historical averages this year following relatively

healthy demand and insufficient supply additions,

which should support prices, according to Lehman

Brothers Holdings Inc.

Zinc and lead inventories are expected to be around

3.07 weeks and 1.25 weeks of demand at the end of the

year, down from their long-term averages of 6.2 weeks

and 3.82 weeks respectively, according to the report.