Failing to cover short position

C

Col.Stauffenberg

New Member
#1
#1
Hiyaa
Can anyone tell me if I dont cover a short position in the cash market. Suppose i have shorted DLF @ 260 and i forget to square off before 3.30, what happens?

Thanks a lot
 
SavantGarde

SavantGarde

Well-Known Member
#3
#3
Next Time You Forget You Still Can Cover It With A Session That Is Called 'Post Closing' & Is Open For 10 Minutes, I Am Not Sure But The Timing Is From 4.50 To 5.00 PM

In Your Current Case It Will Be Auctioned For Short Delivery T+5, You Will Have A Minimum Penalty Of 20%

Another Alternaive To Salvage, If It Happened Today Is If You Know Somebody Preferably With Same Depository(NSDL-NSDL Or CDSL-CDSL) Then You Take An Off Market Transfer & Release The Pay-In Of Your Obligation Thus Avoiding An Auction

Happy & Safer Trading

SavantGarde
Col.Stauffenberg said:
Hiyaa
Can anyone tell me if I dont cover a short position in the cash market. Suppose i have shorted DLF @ 260 and i forget to square off before 3.30, what happens?

Thanks a lot
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