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#1
15th January 2006, 02:43 PM
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Auction - what does it mean???
Hi Traderji,
I am very new to the market of Stocks. I have a question in my mind, if during any time of the day I "SHORT SELL" a scrip and then due to any reason I could not "BUY TO COVER" the same script, what could happen in this case. 1. Is there any penaly chaged by the brocker or the Exchange. 2. Is the person not allowed to day trade then. 3. What are the effects on the persons trading account with the brocker. Thanx zen 
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#2
15th January 2006, 05:42 PM
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Re: Auction - what does it mean???
Brokerage firm will go to auction market in which they buy the stock what you sold at whatever price in that market and credit the balance(profit/loss) in your account.
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#3
15th January 2006, 06:30 PM
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Re: Auction - what does it mean???
Thax for the response.
Still confusing to me. I put an example and that will be easier for me to clarify my doubts. Suppose I Shot Sell an scrip at Rs 80 (100 shares @ Rs 80) and it goes up to Rs 100 (100 shares @ Rs 100), what penalty and loss will I have to bear. I invested 8000 and how much will I get back. Please clarify me on this doubt. Thax in advance Zen
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