I had short sell through MIS order 7000 shared at 460 rupees in VIP industries,but the stock hits upper circuit 462.95 rupees on Thursday,so that Couldn’t able to square off the position.My account opening balance is around 5.7lakhs but now showing -89k.May I know the leverage and penalties for the short sell.When the auction finalised amount can be settled into demat amount??.Someone help me to understand the process
Not sure, it’ll be quite a big penalty though from the exchange. Always keep a strict stop loss and avoid short selling at higher levels. Why not just stick to stocks that trade in derivatives market? There is no risk of upper circuit in F&O stocks and it is easier to exit in panic situations.
If means,I would lost all my money? Because my funds shows -89k.Neer your clarification for better understanding.
If means,I would lost all my money around 6lakh?? Because my funds shows -89k.Neer your clarification for better understanding
You’d need to wait for the trade to be settled by the exchange in the auction. You will get back some money hopefully. Check this with Fyers Team regarding the settlement. Have a look at the ledger statement in “myaccount” and the details of the penalty imposed.
If on Monday, the stock closes lower, you may also end up with profits. Some penalty will be imposed nevertheless.
The amount blocked in your account will get released as soon as the trade is settled in the auction market. So, don’t panic.
@tdUAnV7K0d Thanks for the reply.in ledger statement it shows -89k as net amount.Actually I had short sell the stock on Thursday,when the auction can be finalised and settled the final amount?
Auction happens after T+2 days, so by Tuesday the buyback of the short shares should happen. Final settlement should happen again after T+2 days. So, expect that it gets sorted out by Friday EOD. Note that Thursday is holiday.
@tdUAnV7K0d thanks brother.Actually I short sell my shares on Thursday evening.Thanks for the reply