Is there possibility of short delivery If I do intraday in CNC
As title says, lets say I bought XYZ company stock in delivery aka CNC, but I sell that stock in same day is there possibility of short delivery? Or that means only in BTST CNC?
@bikidas2060 @malikcool @guest_999 @MrKool_JJ @marketdimer @InvestPotato
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No, No I mean If I buy first in delivery i.e; CNC (full cash) but later changed my mind & sell it on the same day i.e; intraday.
In that case, will there be possibility of short delivery?
It will be treated as an Intraday trade and charges would be levied as per MIS
That’s fine. But will there be any possibilities of short delivery since I am punching order as CNC but selling on same day.
zerodha has this option of ‘convert position’ where you can convert your CNC (which you bought today) shares can be converted to Intra Day and vice-versa.. do check if this helps..
It will become mis automatically
Which broker? As far as I know one has to select the option to convert CNC to MIS this way.
depends upon liquidity. If volume less then you might not be able to square off your position. 🙂
If you bought same number of share and sell same number of share same day
No matter MIS or CNC This trade is INTRADAY.
Now here is short delivery explanation
Case-1: Let’s consider you bought share in INTRADAY/DELIVERY and that stock hits lower circuits so you will be not able to sell and your position will be forwarded to next day (1. If you have enough margin in your account your position will be converted to delivery 2. If you don’t have enough margin broker will sell next day morning )
Case-2: Consider if you have a Sell INTRADAY position in XYZ stock and that stock hit upper circuit so you will not able to buy stock and your delivery is considered as short and in this case there is penality.
dont worry ur trade will become intraday only irrespective of broker
Your broker will cover your postions by 3:20 PM i suppose.