Hello, Today I sold 5 shares of NAVINFLOURINE(purchased months ago) first in the morning, and then I bought back 3 shares after that (both CNC i.e., Delivery Long term). I Checked the screenshot for my positions of mine today(I deal in CNC only). under “Sold Holding” & “BUY” CNC but NAVINFLOURINE shows 5-3 i.e., sold-bought = 2. Why?
Zerodha System calculated it as intra day trade? I was shocked to see this reply from the support team -
Please note that whatever trades you take during the day will show under the positions column. If you sold your holding or placed cnc sell order for stock in demat, the system will show as “sold holding” in position. But let’s say you sold and same quantity was purchased back the same day, then it will be considered as intraday and holding will remain as it is.
What kind of a rule is this? Isn’t this weird? Is it same on other platforms too?
When you’re selling and buying shares on the same day it is considered as intraday trade only since the stock doesn’t actually move in/out of your demat account.
Practically it shouldn’t be because first it was purchased months or weeks ago, then there was an instance of sale and purchase on the same day and again the purchased quantity will be sold after days or weeks of settlement, considering the case of CNC delivery.
This is purely illogical.
@yogeshkhetani What do you want to do about it now?
There are well-established conventions like this that are not intuitive and might come as a surprise at first.
Am not sure what you (or the broker) can do against such established practices.
This is the key fact to understand.
IMO, not much left to do except understand how settlement happens and move on.
Yeah, at the end there is nothing much an individual can do regarding the laws. If you complain to SEBI, there is a hell lot of time wasted. Just move on and don’t repeat the mistakes.
BTW, thanks for your replies.