IIFL -Delivery Square off ?

#1
Hi,

I have a query regarding a sell activity and the net position. Say already I have 500 shares of X in my holdings (dp ACCOUNT) and have sold it under Delivery mode.
The Net position shows as -500 qty for the sold share and the holdings tab show 500 as sold .

But , there is an option for me to Squareoff in the Net position tab. If I do again buy the 500 shares on the same day trading hours, will it be considered as

a) The Sell and Buy activity under delivery mode is treated as Intraday and my original holding of 500 shares in DP account will be Not be Debited/Untouched? Or
b) My holdings 500 shares in the DP account are debited/sold out first on the day (FIRST RANSCATION) and the newly bought 500 shares (through squared off ) will be treated as NEW delivery for the day?

Kindly explain what is the expected action to happen for the above scenario.
 

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