Hi friends...
I am new to stock trading. My broker is Motilal Oswal.
I had 13500 cash in my trading account. Yesterday, I shorted 500 Unitech @ 30.60. But in the end, Unitech rose to 31.85 and I lost around 650 on it...
I was not on the PC and did not manually square off the deal. I thought it will happen automatically...
But today, my account shows only 7000 in cash... How did I lose so much money? Was that some penalty for not squaring the deal?
Help. I am trying to contact customer service but may have to go there personally to sort it out.
Any help is appreciated.
I am new to stock trading. My broker is Motilal Oswal.
I had 13500 cash in my trading account. Yesterday, I shorted 500 Unitech @ 30.60. But in the end, Unitech rose to 31.85 and I lost around 650 on it...
I was not on the PC and did not manually square off the deal. I thought it will happen automatically...
But today, my account shows only 7000 in cash... How did I lose so much money? Was that some penalty for not squaring the deal?
Help. I am trying to contact customer service but may have to go there personally to sort it out.
Any help is appreciated.