Conversion from MIS to NRML? Doubt! Pls Clarify?

Dear Frnds . I Have two Questions . I Am New to Market. Kindly Advise.

1 ) Today I Thought of Doing an Intraday with Canara Bank. I Bought it First. But Stock Dropped very Low. I Didnt Sell It. I Converted it into NRML. My Question is Can i sell it tomo Without Making payment to my Broker ?

2 ) I Had a Stock in T+1 Holdings. I Had Sold it Today . Will Both Get Offset ? Or I Have to Make Payment for T+1 Holdings ?

  1. Depends on which broker you are trading with. Most online brokers won’t let you hold positions to next day without paying full payment. But if your broker is allowing, yes you can sell without making payment.

  2. If broker is allowing you to buy for T1 without full payment, yes both will get offset and you don’t have to pay anything after selling.

Hi. My Broker is Allowing me to do it. He Said that it has to be sold before settlement. .For Ex : I Bought Canara Bank on 30th,. Settlement Date Shud be 1st. Jan. I Sold it Today. Hence i need not make any payment. Am i Right ?