What will happen if I did intraday short sell and not cleared it that day ?

Today I did short sell in intraday trading .
i.e I sold rs700000 shares but didn't bought it that day.

They said " It will require 1-2 day ,to clear your share"
"Also you will be charged extra money with penalty"

I don't know any thing about it.
plz help me

Originally Posted by rst

Today I did short sell in intraday trading .
i.e I sold rs700000 shares but didn't bought it that day.

They said " It will require 1-2 day ,to clear your share"
"Also you will be charged extra money with penalty"

I don't know any thing about it.
plz help me

I think they will settle it automatically if its intra-day margin trading ... so whatever profits or losses are credited or debited accordingly ...

Its more prudent to trade in options, than do intra-day margin trading ... Options trading on Nifty or Bank Nifty might be fruitful if you follow some simple hedge strategies ...

At that day ,I was at loss of 15000

But now they said "even 170000 loss is possible"

Is it such a crime that "they are asking for more than 10 times money"

Originally Posted by rst

At that day ,I was at loss of 15000

But now they said "even 170000 loss is possible"

Is it such a crime that "they are asking for more than 10 times money"

I used to do intra-day margin trading like way back in 2005 in ICICIDirect and they normally auto-square off by 3:15 pm or so and settle profits or losses as such ...

I personally think intra-day margin trading is way too risky and you are much better off trading in Options ...

And yes, its the brokers rules and the risk is all ours! So play safe. Blaming stupid rules of Brokers will not help us in any way ... The risk is all ours ...

They posted me a bill of 67000 as total loss
Today is 2nd day of adjustment

Tomorrow it will be much more clear

Originally Posted by rst

They posted me a bill of 67000 as total loss
Today is 2nd day of adjustment

Tomorrow it will be much more clear

Play safe sir ... Read my Book ... It will help you understand Equity Markets better (Although it may not help with trading) ...

You are right now losing too much money.

Yeah

In future I will trade in nifty option

I opened account with Zerodha
They said
"Our trading timing is upto 3.20 pm,
In case any short sell in intraday,we short it out
So their is no chance of auction "

Its really great
Angel brokers should learn from them