Now, RIL has issued the right issue. Here is my look at how as an investor you should look at it.
The right issue will technically reduce your ownership if you don't participate in the right issue. I think one can sell RIL from current level and add them back at around Rs 1260. You can use this profit to buy more shares. (In this case around 15%)
There is a gap that will be filled by RIL in the near term & personally I have a view on Reliance Industries for short term
->Low delivery Volume: 28.47% as on 30 April 2020
->Heavy put writing: 1600 OI -> 1,118,000 with a significant increase in OI
1500 OI -> 1,163,000
->Siginificant rally in short term may lead to profit booking.
->After the right issue most of the stocks face heavy selling. (Personal Opinion)
Bollinger Bands +
I have combined with to show a significant increase in . This states that Big/Smart money is present here.
I have used Fractals to identify S/R