I went to Rishikesh with my friends last month and it was one of the best trips of my life. We stayed at river side hotel and start tracking the next day. It is amazing place for rafting, paragliding and making new friends. There are many foreigners and locals who would love to help you.
21 kms above, there there is marvelous temple of Nilakantha Mahadev, which you should definetly visit.
The location is very green and ideal for meditation purpose. We also joined a night party with other campers.
But the local shopkeepers also charge extra and more money to tourists and foreigners, so it would be better if you behave like local there and rome consiously.