I have purchased couple of stocks and holded it for few days. When I tried selling it today, it reflected as an open position.
I want to sell it off and get the money in my account. How to do that?
Hi,
When you sell your Holdings, you will have to first check the Holdings quantity in the Holdings page. If the sold quantity is deducted then this indicates that the holdings has already been sold.
There has to be a way for you to know which Holding has been sold and this will show as a sell position in your Positions window. Here, you need to confirm if the position was sold under product type CNC. If it is CNC, then you leave the position as it is and it will be removed from you Holdings by the end of he day. The amount equivalent to the value of the holdings will already be credited to your trading account at the time of selling. This amount can be used for other positions immediately.
As for the Profit and Loss of the Sell CNC position changing with the market, it comes handy in this scenario:
Many traders sell their holdings during the day, use those funds to do other intraday trades, and then buy back the stock before end of day. They don’t want their holdings to change because capital gain taxes are lower for investments. Showing such CNC sell trades in positions makes it easier for traders to see the MTM profit/losses on the CNC sell positions which will be bought back the same day together with all their other intraday trades.
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