Plz Help Me With BTST (Buy Today Sell Tomorrow)

Hi friends...
I have a 'novice-like' question... Please help me.
What happens if I buy any scrip today (whether it is there is the BTST list or not) and then sell tomorrow. Why can't I do it?

I am using ShareKhan and the scrips that I buy today shows in the dmat account by tonight. So, why can't I sell it tomorrow morning. In fact, many times I have done this.

And very few times, the shares have gone for auction...

One more thing, can anybody help me with this "AUCTION" thing. I don't know what it is.

Thanks in advance...!
Sunil

Sunil What u see in u'r acct (tonight) is receiveable balance ...(Carefully read that)..that means u still have to receive it..(OK).When they appear in DP balance , then only try selling them as far as Sharekhan is concerned.If u don;t face much problem even if u sell immdtly after 1-2 days ..it's up to u ..Be carefull..
I have had lot of problems with BTST with Sharekhan..&
"And very few times, the shares have gone for auction..."u say ...then it's good..I may be wrong..
Atleast I personnaly won't do BTST using Sharekhan..

This question is been addressed in other threads too ...any way i will tell you few in brief ..for details you search other threads also.

always remember,sell only those shares which are in your dp

try to understand transaction cycle T+2 ...how and when you get shares in to your dp after buying and the cycle for selling

if you sell tomorrow and voilate rules....you will have to pay hefty fine and also high price for buying in auction.

shares when you buy has to be deliverd to you from seller.
when you sell it is tobe deliverd to buyer from your side.

don't lose money....always check your dp once you login and plan your trade for that day.


regards
suba

i think sharekhan allow some selected scrip for btst (eg A group shares). so u done lot of time sucessful in sharekhan.

and u said "only few times it gone for auction "
i think that is a z group shares.

Thanks a lot friends for your help..

However, I need to share one thing about XL telecom.
Before the crash of Jan, I had bought few shares of XL telecom.
After 4-5 days the crash started. And I sold it on monday morning.(the day the crash actually started)
After two days, I recieved an email from sharekhan saying that it has gone for auction.
I lost huge money in that..

I don't know when to sell the shares to avoid auction

Anyways, thanks a lot for help

SUnil

if you buy on monday...you can sell on thursday with out any problem(you will get your shares in dp by that time)...provided you have shares in your dp.

sometimes you won't get shares on Thursday ..because..

the seller didn't deliver and he went short of shares means ...you will receive share not on thursday but after buying it from auction for seller...here seller get fine as well as auction...here seller is made to pay for going against rules.

in your case ...say you bought it on mondays ..u should receive on thursday in your dp ...but didn't ..due to above situation from seller side.

with out checking your dp ...you sold it as you thought you have shares...but actually you didn't have due to auctions dealy .

now you sold shares. ..as you don't have in your dp you went short of delivery of shares from your side ...now you face fine and acution for delay.

here in this case you didn't do any mistake ...but that is the rule ..and cycle to be followed

simple solution...is ....with out seeing your dp ..never sell your shares.

always check your dp and number of shares in your dp ..then sell.

regards
suba

After reading all posts here-in-above, I am still not getting what the term "Intra-day" trading means. I suppose if you buy to-day and sell to-day [ or otherway round for "short-sell" i.e. sell first and buy afterwards but in the same trading session ]. Seniors please guide.

INTRAD DAY.... transaction is opend and close on same day...that is you buy shares and sell shares on the same day any where between 9.55am to 3.30 pm of a given day.

short sell is... even if you don't have shares in your dp ..you can sell it off....remember ...if you don't clear it by buying back on the same day...you will be made to pay fine and also auction price which will be heavy loss.

example ...suppose you think xyz share will go down ...you can sell it off with out having shares in your hand ..(you need to have cash in your trading account ...other wise you will not be able to sell at all).
on same day you need to buy back same number of shares again...it could be profit or loss

so intraday have two types of transactions...

when you think stock price will go up ...you will buy first and sell when it goes up...you get profit.

when you think stock price will go down ..you will sell first and then buy back at lower price ...again you get profit

Thanks A Lot.

Thans a lot "suba_stocks"...
You have been very kind and generous in answering all my questions...
Thanks a lot friend...

SUnil