A Strange Problem

Its sell position and means we have to give delivery to the exchange .... since in this case we dont have the shares in our account the exchage conducts a buy-in auction on our behalf.
In my case, i short sold polaris for 124 but forgot to squareoff...... first up since i short sold there was a value debit in my account for 127(i think its 20% above the CMP)..... then the buy-in auction happened for 114......net net i profited ....auctions can be good in a falling market.

.........who cares.............

it happened again and again with me.........(2-3 years back). Take it easy...........

I was also profite in george wiliams last year. I sold at 164 and later autcion happend at Rs. 156. I had caught in auction 4-5 times for small quantity but never imposed big penalty. But my friend had caught in union Bank and he has to incurr loss of around 25%. So be careful.

check out the post date man, i prefer to know things bfore i do it.


chills

marcus bro, y did u dig this up now???

Hi

In such a case of short selling and got caught , ask your broker to buy it off-market, the same day. the off martket is open for half hour after the trading is over.

Other iwse it is going to be very costly error , because stocks would be bought for you in an auction and with penalty, it is about 50% higher than the upper circuit


sagi

sawgat mah brother, dunno waz doin a lotta readin this morn

no problem man