updated bullish chart - take 2 , page-14

Stock dropped when SPP was announced - this is when the market reassess the dilutionary impact and share price changes accordingly. Any movement after the SPP closes and shares are allocated is likely to be negative though only on the short term with people selling out to make a quick profit though the stock will normalise to the value we see now. I highly doubt it will drop like a brick.

As for TA - it can be used on a short timeframe, medium timeframe or long timeframe so there is value in using it now - you can even use it for intraday movements. Don't discredit TA as its relevant across all time frames.

I will be participating in SPP in two SRN's. Historically the vast majority of stocks have seen a premium to SPP immediately or shortly thereafter (weeks).