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| Discuss fate of day trading in a t2t stock at the Investors Grieviences within the Traderji.com - Discussion forum for Stocks Commodities & Forex; dear friends, my account had been debited by a big amount on account of auction ... |
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| Investors Grieviences Discuss your personal grieviences and frustrations with stock market intermediatories like brokers, registrars, bankers, etc. |
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#1
11th August 2005, 07:29 PM
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fate of day trading in a t2t stock
dear friends,
my account had been debited by a big amount on account of auction square up of a stock in t2t category, with which I unknowingly engaged in daytrading.But my broker has not given me any auction bill till today after 4 months of the transaction day, though they first said that auction was being held.Now they are saying that my share has been squared off by nse at 20% above the rate that existed on the day of the auction. What should i do, please help me. meenakshee 
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#2
11th August 2005, 08:32 PM
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Re: fate of day trading in a t2t stock
Four months is too long a time frame. Ask your broker for proof that no shares were recieved in the auction. If the broker does have proof, NSE does square off trades at 20% higher than the closing rate of that day, if no shares are received in the auction. You should also think of changing your broker, first for not letting you know that the stock was in T2T, and second for the long time delay in informing you about the debit.
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#3
12th August 2005, 08:21 PM
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Re: fate of day trading in a t2t stock
thank you for yor reply.
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#4
22nd October 2005, 01:45 PM
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Re: fate of day trading in a t2t stock
Quote:
Thanks in advance.
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#5
22nd October 2005, 01:47 PM
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Re: fate of day trading in a t2t stock
Quote:
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#6
14th January 2006, 03:23 PM
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Re: fate of day trading in a t2t stock
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 the person not allowed to day trade then. 2. Is there any penaly chaged by the brocker or the Exchange. 3. What are the effects on the persons trading account with the brocker. Thanx zen
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#7
19th February 2006, 04:18 PM
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Re: fate of day trading in a t2t stock
Quote:
Your broker will cover the transaction on your behalf at the time of closing of market. There is no other impact except that it may cause you huge losses if the position has moved against you. Best Regards,
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#8
16th December 2007, 01:46 AM
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Re: fate of day trading in a t2t stock
may not be always true.. hdfc squares it off.. sharekhan send to the auction on non-delievry of shares till t+2, it depends on the business logic they have put in their softwares..
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