modules in Initramfs

[beyond.hack]

hello experts,,
I am on Fedora 16 and My current kernel is as per the uname -r output
is 3.1.0-7.fc16.i686.PAE

I am compiling a kernel 3.4.1 and after the compilation the bzimage and
initramfs are successfully generated..
then doing a
#make install
is giving error like this::

sh-4.2# make install
sh /usr/local/src/linux-3.4.1/arch/x86/boot/install.sh 3.4.1
arch/x86/boot/bzImage \
 System.map "/boot"
WARNING: Couldn't open directory /lib/modules/3.4.1: No such file or
directory
FATAL: Could not open /lib/modules/3.4.1/modules.dep.temp for writing: No
such file or directory
find: `/lib/modules/3.4.1/': No such file or directory
F: No modules.builtin.bin and modules.builtin found!
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
find: `/lib/modules/3.4.1/': No such file or directory
find: `/lib/modules/3.4.1/': No such file or directory
find: `/lib/modules/3.4.1/': No such file or directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
E: FATAL: Could not load /lib/modules/3.4.1/modules.dep: No such file or
directory
sh-4.2#


2.Do all the modules needed by the kernel(specified at the configure time)
are built into the initramfs compressed image??


thanks in advance...plz. bear with me if this is a real simple thing...but
I am just starting out....



Regards
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