Can i buy on mis if i want to do arbitrage like this

i want to buy in MIS for taking the arbitrage advantage but i know the following condition is necessary for doing arbitrage:

condition: for doing inter exchange arbitrage i.e. buying in nse and selling in bse. we need to have the specific company shares in our demat already and then only we can buy and sell in the inter exchanges. for example: if i want to buy 20 itc in nse and sell 30 itc shares in bse for doing the inter exchange arbitrage then, i need to already own the itc shares in my demat and this already owned shares quantity should be the difference of the quantity being bought and sold at nse and bse respectively which is 10 in this case.
and if i dont already own the itc shares in my demat , then i can be at the risk of short delivery and can lead to penalty in the rare case.

my questions are:

  1. can i do BTST for getting arbitrage advantage

  2. can i buy the itc shares on MIS basis for owning the shares (i.e. to show that i already own the itc shares) and on the same day can i do buying and selling on the exchanges, please help)

You can sell scrips on exchange other than the one you traded on for this you will need to have that stocks in your demat account.
So in order to sell 30 ITC on BSE you need to have entire 30 shares in your demat account. If you sell 30 shares of ITC on BSE when you originally have 20 shares, the remaining shares of 10 will have to be squared of by the end of the day.
If not squared off then there is a chance of short delivery.

  1. You can do BTST on the same exchange.
  2. Hoping the above explanation clears this doubt.