Traderji.com


A Strange Problem

Discuss A Strange Problem at the Equities within the Traderji.com; Hey frnds a strange Question came to my mind so just askin. Say a stock ...


Go Back   Traderji.com > THE MARKETS > Equities


Equities Discuss & analyse stock market news, views, trends and your favourite stocks here.


Reply
 
Thread Tools
  #1  
Old 4th August 2006, 01:07 AM
Member
 
Join Date: May 2006
Location: Kolkata
Posts: 1,073
Thanks: 3
Thanked 7 Times in 7 Posts
swagat86 is on a distinguished road
Default A Strange Problem

Hey frnds a strange Question came to my mind so just askin.
Say a stock has an Upper circuit of 5%, I Short Sell it when it is 4% up. It goes up and gets locked in circuit and never comes out. wat happens at the end of Settlement?
Pls do reply Fellas

Chills


Advertisements

Reply With Quote
Advertisements
  #2  
Old 4th August 2006, 01:19 AM
Member
 
Join Date: Jul 2006
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
JERYJACK007 is on a distinguished road
Default Re: A Strange Problem

Well, first of all you should not practise such trades especially when you know that you are nearby filters. Although don't be panic, you have to give delivery to DP if you have those stocks in your portfolio, before matter goes to auction. Trade Safely!
Reply With Quote
  #3  
Old 4th August 2006, 09:25 AM
Member
 
Join Date: Dec 2005
Posts: 203
Thanks: 0
Thanked 11 Times in 6 Posts
ping_manoj is on a distinguished road
Default Re: A Strange Problem

A pesimist says things cant go worse.
A optimist knows they can.

Further, if you have made that trade with full force(means with all the money that you had) and you are now not able to buy anything back, then you are going to be hit hard, very hard...humm.... very very hard. Its happened to me. I lost a GOOD amount of money as penalty.
Maybe you would want to research the "penalty" procedure on NSE for such mistaken (sadly, misrebly mistaken) trades
Reply With Quote
  #4  
Old 4th August 2006, 03:27 PM
Member
 
Join Date: May 2006
Location: Kolkata
Posts: 1,073
Thanks: 3
Thanked 7 Times in 7 Posts
swagat86 is on a distinguished road
Default Re: A Strange Problem

oh tell me somethin, is it illegal to place opposite order near circuits? no definitely not so wats the problem? secondly Im talkin of Intraday trade my frnds. Im sure u guys know that a sell position in cash market cannot be talken delivery of. So thats wat my question is, do i hav to undergo Auction Manoj and if so whats the procedure?
Reply With Quote
  #5  
Old 4th August 2006, 03:40 PM
Member
 
Join Date: Dec 2005
Posts: 203
Thanks: 0
Thanked 11 Times in 6 Posts
ping_manoj is on a distinguished road
Default Re: A Strange Problem

Quote:
Originally Posted by swagat86
oh tell me somethin, is it illegal to place opposite order near circuits? no definitely not so wats the problem? secondly Im talkin of Intraday trade my frnds. Im sure u guys know that a sell position in cash market cannot be talken delivery of. So thats wat my question is, do i hav to undergo Auction Manoj and if so whats the procedure?
If you ShortSell in the cash market and dont square off on the same day, then NSE will give you 2 days to provide the stocks. If you fail to do so then NSE will buy the stocks on ur behalf, at the market price and hand over to the buyer, and over and above charge some 15% penalty to you. I hope that clarifies.
Reply With Quote
  #6  
Old 4th August 2006, 05:05 PM
Member
 
Join Date: Nov 2005
Posts: 297
Thanks: 398
Thanked 231 Times in 97 Posts
chachi is a jewel in the roughchachi is a jewel in the roughchachi is a jewel in the rough
Default Re: A Strange Problem

Hi Swagat,

This problem of yours is very common in the market I beleive. Infact I have been a victim of it few months back. I shortsold GESCOCORP when it was nearing to its upper circuit in the closing hours of day trading (3.00PM). Within minutes I was caught as it touched the upper circuit. (Later I learnt that it is Market makers who play this kind of game. I mean they catch many shortsellers at its uppercircuit, and as the day trading time gets over, the scrip again opens for trading.)

I could not buy as there were no sellers before the time period. At that point of time as I had few shares of it as long, they taken qway from my account and as well as the remaing no. of shares amount. Hence my money also got blocked for about a week as the auction from NSE takes some time. Finally I got the remaing amount with a huge penalty. Hence be cautios while trading opposite at its limit. Of course it is not illeagal, only u pay hefty penalty!!!
Reply With Quote
  #7  
Old 4th August 2006, 05:12 PM
Member
 
Join Date: Dec 2005
Posts: 203
Thanks: 0
Thanked 11 Times in 6 Posts
ping_manoj is on a distinguished road
Default Re: A Strange Problem

Hold you breath....
I did this on BEML when it was on a up trend. 150 numbers.
Calculate the losses.

NOTE: Dont even calculate if you have a weak heart.
Reply With Quote
  #8  
Old 4th August 2006, 11:58 PM
Member
 
Join Date: May 2006
Location: Kolkata
Posts: 1,073
Thanks: 3
Thanked 7 Times in 7 Posts
swagat86 is on a distinguished road
Default Re: A Strange Problem

For an intraday posiition im sure a person takes a leveraged position. So manoj does he/she loose all their money that is the leverages Amt?? If the same situation occurs for the LONG postion wat happens then?
Reply With Quote
  #9  
Old 26th August 2007, 06:52 AM
Member
 
Join Date: Mar 2006
Posts: 809
Thanks: 0
Thanked 27 Times in 14 Posts
marcus will become famous soon enough
Default Re: A Strange Problem

wow .... wicked!! thanx for the heads up
Reply With Quote
  #10  
Old 26th August 2007, 10:25 AM
ratan jain
Guest
 
Posts: n/a
Default Re: A Strange Problem

Swagat:

What scrip did u get stuck in?

Hey bro, there are many other less painful ways to end your trading career Why u wanna do it in one day?

Advertisements

Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: A Strange Problem
Thread Thread Starter Forum Replies Last Post
indiabulls problem usa_neeraj Equities 16 26th July 2006 04:22 PM
Please HELP - problem with Metastock cico Software 11 21st June 2006 04:35 PM
BSE-NSE2005 - Any Problem soumya_b Data Feeds 1 13th June 2006 09:54 PM
Power problem Karuna Equities 3 21st September 2005 08:25 PM
Nse ---Confirmation Problem mojac Investors Grievances 0 26th August 2005 11:10 AM


All times are GMT +5.5. The time now is 12:23 PM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70