Selling 50 shares of DLF without buying at end 0f the day ?
no, it is not ok ur friend told u right, square up can be done only on same day sell of fifty extra shares on 14th will go in AUCTION and settlement in three days and u will pay for it, bcoz sebi needs 150 shares from u and u had only 100 so it went for auction on that day, if price of that share on auction day is more than u sold it, then it make u loss and 50 shares extra u bought on 15th will remain as stock in ur account after settlement check ur stock status, it will show u zero shares of DLF today but after auction u will see it 50 u can do nothing, u seems to b new for share market, i will advise u to keep away in this situation WAIT i think u still have a chance to prevent ur loss, if somebody have 50 dlf shares in his account, u can ask him to give u that shares through “off market sell” ask ur broker for the procedure, U HAVE ONLY TODAY’S TIME FOR THIS
This is called as “Short Trade”. Beware Doing short trades in equities is extremely risky. It is against the SEBI rules. If you want to do short trade do it in futures. Futures market is meant for that. Then you can cover (buy) that short within expiry period (generally 1 to 3 months). Again you can buy many shares in small amount. What will happen if you short in way you asked. On the first day, your account will be short of 50 shares. so. 1. You will be charged 20% of the DLF’s closing price as a fine. 2. Your broker will automatically purchase 50 shares for you in auctions market with whatever price he gets. 3. You will have to pay that price! 4. All above is called as settlement. 5. You will have to pay brokerage and taxes for these trades. No!!! NEVER ever do that! All this is through self experience. Please mark my answer as “best answer” if you appreciate my efforts.
