@Zerodha. The Other day I bought All Cargo in Zerodha. Since MIS is not permitted for it, I bought CNC. After some time, since it was not moving as I expected, I put to squareoff it. But it was not being permitted, for the reason that “you are selling a stock which you dont have holdings”. But when I put a stop-loss order it got executed.
Why it is happening like this. Are the new SEBI rules against selling a CNC buy the same day or before T+2?
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Great query. Even i didn’t think what would happen to selling non intraday stocks before taking delivery under the new framework. A clarification is much needed on this one. But I can feel only bad news will come out as an answer to this one.
You might have already placed stop loss sell order which is pending in order book. So only your sell CNC order might have rejected. For CNC sell either you can place target or stop loss and not both.
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