Help please Deficit of 40 shares

[somanchirajasekhar]

Hi every1.I am relatively new to trading and I have a account with Religare .I bought today around 10 shares for 129 rs and was about to buy another 50 shares at 131 rs however instead of buy I have selected sell by mistake and it said it sold 50 shares at 131 rs and it was approved however i dont have any idea what does happen??
Do they get cancelled ? or does my broker buys those 40 shares of behalf of me bcz there is a deficit of 40 shares
plzz help me today is my first day of trading

 

[aravinthrajm]

No need to worry. It will be considered as an intraday trade only. You can buy 40 shares and make it zero. But you have to do it before 3.30PM today compulsorily. And profit or loss it falls in your a/c.

 

[fast_rizwaan]

Hi every1.I am relatively new to trading and I have a account with Religare .I bought today around 10 shares for 129 rs and was about to buy another 50 shares at 131 rs however instead of buy I have selected sell by mistake and it said it sold 50 shares at 131 rs and it was approved however i dont have any idea what does happen??
Do they get cancelled ? or does my broker buys those 40 shares of behalf of me bcz there is a deficit of 40 shares
plzz help me today is my first day of trading

Do you have account with R-Ally (rally) or R-Ace (race)? To find out that, which software you used to put the order, Racepro (race) or "Diet Odin" (Rally)

If you have Race account which uses racepro, then your shares will be bought back by the race team around 3:10 pm.

If you have Rally account (which uses odin) then you are in trouble, as odin allow naked shorting, your shorted shares will be put to auction. and you may lose a max of 10% of the share value.

You may get the message "Dear <your religare code> please transfer 50 XXX shares to the margin account/ pool"

Don't worry, they'll buy the shares 3-4 days later and give the profit/loss to you.

So, Relax, mistakes happen, and your's is not a big mistake.. but remember to see the buy order/sell order window.

I learnt it the harder way with 17k loss.