Consider the following example for a cash market scrip:
Scrip ABC opened at 100 and then zoomed to 110 in 2 minutes. I short sold the scrip at 110. Now after the initial euphoria, the stock came down....and settled at say 105. Seeing this consolidation, I bought the scrip at 105. After one hour, the stock reaches 110 again.
Now, can I sell the same stock at 110 that very day??? Or do I have to take delivery first???
Please advise. This query has confused me..... Am I creating any open position this way in the cash market???
Scrip ABC opened at 100 and then zoomed to 110 in 2 minutes. I short sold the scrip at 110. Now after the initial euphoria, the stock came down....and settled at say 105. Seeing this consolidation, I bought the scrip at 105. After one hour, the stock reaches 110 again.
Now, can I sell the same stock at 110 that very day??? Or do I have to take delivery first???
Please advise. This query has confused me..... Am I creating any open position this way in the cash market???