Doubt in Intraday Trading

[shajip88]

What happens if i buy shares using intraday option but dont sell it on the same day?

 

[tomjerry]

I think this can happen:

If you buy shares using intraday option and if you don't sell it then there are two options:

[1] since you have used intraday option to buy it, the system will sell it automatically before 3:30pm.

[2] if system does not have this facility then shares will be credited to your demat account as a delivery if you have enough balance to pay for the shares you bought.

However, you should call your broker and confirm that what is the system for your account in this regard.

What happens if i buy shares using intraday option but dont sell it on the same day?

 

[nilesh mishra]

What happens if i buy shares using intraday option but dont sell it on the same day?

Ask your Broker.....
IN IIFL, they are delivered.

 

[shajip88]

Thanks for the reply. So if they are get delivered then they will charge extra brokerage or fine me? Because i saw that brokerage is very less in intraday. So if i buy and keep the shares then it wouldnt be fair right?

 

[tomjerry]

Thanks for the reply. So if they are get delivered then they will charge extra brokerage or fine me? Because i saw that brokerage is very less in intraday. So if i buy and keep the shares then it wouldnt be fair right?

If you buy for intraday and don't sell it then you will get delivery of that shares, for that delivery brokerage will be charged, normally it is higher than intraday brokerage. In this case you will not be fined.

You will be fined only in two cases: If you buy for intraday and suddenly there is seller circuit (no buyers) and you don't have money to take delivery!
If you sell for intraday and suddenly there is buyer circuit (no sellers) and you don't have shares to give the delivery!

If you buy for intraday and later on changes mind to take the delivery of that shares instead of selling on the same day then there is no problem and its fair!

You must call your broker to clarify that what will happen, because each broker has different system.

 

[shajip88]

Thanks for the replies In hdfc sec, they automatically sell the shares if we dont sell it ourselves. However there is a option to convert it into deliveries

 

[pradeeeep32]

Re: Doubt in Intraday Trading
Very usefl question.reply is useful for all.
pradeeeep32

 

[teampower2]

@All : What happens in the case of Sharekhan? Do they sell it all at the end of the day or it get converted into delivery?