UPDATE

UPDATE AT 3 PM ON OCTOBER 1

OIL RISES TO $ 102 AMID BROADER GLOBAL RALLIES,

HOPES U S SENATE WILL PASS BAILOUT PACKAGE,

WEEKLY DATA EXPECTED TO SHOW CRUDE STOCKS UP.

TRADING CALL

TRADING CALL AT 12 NOON ON OCTOBER 1

Intraday Call: Sell Crude Oil MCX Oct in the range of

4753-4748, T1 4703 SL 4777.

UPDATE

CRUDE UPDATE AT 11 AM ON OCTOBER 1, 2008

MCX CRUDE OCTOBER may test resistance of 4820

prefer longs for intraday, trade range is 4820 to 4690.

October Gas may trade sideways its range is 348 to 360.

CRUDE UPDATE

CRUDE UPDATE AT 5 PM ON 21 AUGUST

NYMEX CRUDE OIL BREACHED INITIAL RESISTANCE $ 117.6

IF PRICES SETTLED ABOVE THESE LEVELS IT MAY MOVE UP TO $ 120 .

MCX CRUDE OIL RESISTANCE RS.5185.

MARKET SUMMARY

MARKET SUMMARY FOR 20 AUGUST, 2008

Oil raced above $116 a barrel on Thursday, a third straight day of gains, on supply

concerns after Russia expressed its displeasure over a U.S.-Poland defense pact.

U.S. crude futures gained 80 cents to $116.36 a barrel by 0709 GMT, while London

Brent crude climbed 65 cents to $115.01.

Oil prices are down more than 20 percent from peaks hit in mid-July on worries

over slowing global demand, but they remain up about 15 percent this year in a

multi-year rally driven by Asian economic growth.