Scene 1: i short sell MIS @400, can i convert it to CNC. (I HAVE NOTHING IN DEMAT FOR THAT SHARE.
Scene 2:i short sell MIS @400 and have holding @390(buy price) lets say, in this case if i convert it to CNC, what would happen to the share in my holding. As intraday mis sell when converted to cnc it pop up u have no holding, so what i believe to convert mis sell to cnc u need to have that share in holding.
My doubt if i have holding @390 and i did sell mis @400 and convert it to cnc, what actually happen with my holding.
Request u to pls explain. please explain with the price i mentioned.
You can’t convert SELL MIS to CNC. You can only convert MIS BUY to CNC! And if you want to shortsell for longer period you should trade Futures
Thank you for the reply, but i did find option to convert sell mis to cnc in zerodha and also find on net that u can convert sell mis to cnc but u need to have a holding( even zerodha pop up this when u try to convert it)
so can u explain this
No, you cannot convert Short MIS position to CNC if you don’t have shares in your holdings.
In this scenario, when you convert your Short MIS position to CNC, shares from your holdings will be sold if you don’t square-off your position before market close.
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Bro! When you buy it’s obvious you can sell whether it’s Intraday or CNC. Yes you can just see option (POP UP)but it doesn’t works. Ignore pop up thing! it will take sometime for you to understand.
ok so it means if current price is @410, my holding will be selled @410(profit of 20 let say as i bought it for 390) and my mis sell @400 goes to my holding which i can buy later once price goes down.
That’s correct of (410 Sell) and (390 Buy) But Sell MIS @400 Which will close at market price at 3:20! Irrespective of any market price! Whether its 300 or 500. At the time of market close! 3:20 Order will exit!
Doesn’t go to your holding. When you convert for Short MIS position to CNC Sell, shares from your holdings will be sold.
Thanks a ton for the reply, 1 last query ( let say current price is 410 and i did short sell @400) the share in my holding get selled @390 the price i buyed it or @410 current marked price, when i convert mis sell to cnc. as if get selled @410, i see no logic of converting sell mis to cnc as one convert someting only when they are in loss. So means STBT is nothing.
thanks in advance.
When
You cannot short for 400 at any way! Even though you place @400 Order gets triggered for 410 ( Most of the cases When you are on buying side, you want buy at 410 and MKT PRICE Is 398, Order get triggred for 398 Mostly! Not everytime but mostly, Same applies to shorting When MKT Price is 410 Your order get triggred for nearby price according the scrip you choose, Which is 408 or near by but definitely not 390. I already told you, You cannot convert MIS SELL TO CNC! NEVER Except (Futures)
To make a point very clear. You can short sell MIS INTRADAY ONLY not on CNC product. Conversion happens only for MIS BUY to CNC BUY. With an example, You bought xyz at Rs 390 Qty of 100 Shares, You have to pay around 4000 for this trade THROUGH MIS. If you are losing, Lets say, Price reached 380 and you want to convert, Now you have to pay full price 380x100 38000 (OR WHATEVER CHARGED APPROXIMATELY) ONCE CNC CONVERTED, Holdings will stay with your demat as long as you want. No way you can convert you SHORT POSITION TO CNC. ONLY BUY TO CNC! GOT IT?