Redirect inside domain using IIS 6.0?

Question

I'm currently using an index.html with a meta-redirect to forward clients from http:// www.example.com to http:// www.example.com/directory.

After reading that this affects my SEO, with meta-redirects having been abused by spammers, I want to change this type of redirection.

Is there a way to redirect from http:// www.example.com to http:// www.example.com/directory using only IIS 6.0 ? (I have tried setting "A redirection to a URL" with the "Permanent redirection" checkbox below the Home Directory tab, but this ends with a redirection loop)

Thanks in advance