I was holding 1100 shares of RAIN which I had bought from NSE. 2 days back, i tried to sell 1000 shares in BSE and the sell order immediately got rejected but even then 1000 shares were deducted from my holdings and i got an email that evening that said “short delivered”. I Don’t understand why it was called short delivery when the sell order was cancelled and didn’t go through.
Anyways those 1000 shares are back in my holdings today but the average buy price is increased of all 1100 shares from 356.6 to 360.86. this reduces my profit by 4000+. Can anyone help me understand?
Settlement with exchange (if anything was done for this) was not required because that sell order had failed and i should’ve still continued to have all shares in holdings.
Isn’t it? Am i missing anything here?
It was sold on other exchange where you have no stock , if you buy on same exchange with low price same no of quantity within the period , you wcan earn profit.
You had 90 shares in holdings and 1000 shares in T1 holdings which you had bought in NSE, so whenever shares are in T1 holdings you will not be able to sell those across other exchange, so as you had placed sell order in BSE, the order got rejected. About the shares, getting disappeared on Monday, the reason was the 1000 shares bought on 9th were short-delivered for which you received a mail from Zerodha and these shares were settled in auction settlement on T+3 days on 14th. To know more about short delivery, kindly visit the below link,
For average price calculation, you will receive a call from Zerodha shortly.
You had bought the shares 2 days back on NSE. So the shares were to settle in your demat on T+2 basis. You sold on BSE & they were short delivered because they reflected in your demat account next day.
If you had sold those shares on NSE, then this could not have created a problem even if you buy shares under CNC as of today & sell them tomorrow or day after even before they are delivered to you. The exchange needs to be same in this case.
But once the shares are delivered to you on T+2 basis, then you can even sell them off to other exchange.
Zerodha people confirmed to me that it was because of some back office problem that wrong buy price was shown initially. They said that the buy price shown currently is the correct one. I calculated using the data I had saved and it confirmed it. Thanks to zerodha customer care for immediate and clear response.
And all the people who’ve replied here, thank you, all of whatever you’ve written above is correct and I got it.
The only point that caused all these confusion is, the sell order was shown as rejected but it had actually resulted in shorting and I had no clue about it. A good learning.
FYI* For queries regarding your portfolio, we always request you to ask the same in the broker house ticketing system or customer support.
Sure. I actually did but didn’t get correct info. So posted here for members’ suggestions as I needed to act ASAP on this.
I have an account with HDFC, incase of CNC, system doesn’t allow short selling ie you cannot sell unless the shares are delivered. I dont know why this check is not there in Zerodha. So it is better ti stick to one exchange - NSE.
You’ve got 2 things mixed up here. Short-selling and selling in CNC are 2 different things. Short selling is when you sell first and buy back after. Selling in CNC is for the holdings present in your account. You will be allowed to sell in CNC anytime after buying the stock. After buying the stock, selling in CNC on buy day itself will be an intraday trade, selling in CNC on T1 day will be a BTST trade and after that will be a regular holding sell trade.