AUG 6 WEDNESDAY

SHORT TERM TREND : BEARISH: TARGET RS 313

LONG TERM TREND : BULLISH : TARGET RS 405

S1 RS 318, S2 RS 313, S3 RS 308

R1 RS 322, R2 RS 325, R3 RS 328.60

PREFER SHORT AT RS 321.70 TO 322

STOP LOSS RS 325

TARGET RS 316.50

Base metals slump on demand worry but end off lows.

Base metals ended steady to lower onTuesday, easing off

session lows after markets jittery about global demand

prospects pushed copper to a six-month low and zinc to its

lowest level in2-1/2-years.

Prices recovered as investors squared positions ahead of the U.S.

FederalReserve's decision to keep interest rates steady in an

effort to nurse theeconomy back to health without further

exacerbating inflation.

The Federal Open Market Committee's decision to hold rates steady

at 2 percent was expected. The accompanying statement said

although policy makersexpected inflation to moderate later

this year and next, the outlook remained"highly uncertain".

In New York, copper for September delivery down 2.30 cents

at$3.4170 a lb on the New York Mercantile Exchange's

COMEX division.

Concerns about the macroeconomic outlook were also highlighted

by the decline in U.S. crude prices a three-month low of $118 a barrel

amid rising OPEC supply and weaker demand in the

United States and Europe.