Yesterday Sold finopayments Bank stock @ 227.5 x Qty 875. Later stock has touched upper circuit. 231.6. I couldn’t able to buy back because of no sellers till 3.30. And today i can’t see that existing position. I want to know at what price settlement will be done ?
Hi redd
The exchange buys it back on your behalf by conducting an auction two days later (T+2)
You will receive an auction note to your email. Do check it out.
Would recommend you to read this Z-connect post to know the entire process in detail:
Yes. But my question is what would be the auction, settlement price? T.2 day LTP?
As mentioned in the above article,
At what price are the shares sold?
There is no fixed price for the Auction to happen. The exchange specifies a range within which the auction participants can offer to sell their shares.
Upper cap of the range: 20% higher than the price that it closed on the previous day of the Auction.
Lower cap of the range: 20% lower than the price that it closed on the previous day of the Auction.
Sir! This is terrible. I sold at 227.5. i am unable to close
… Today closing price is ex: 265. Again top of this 20% Which is 318? Is that so???
Very sorry to hear that, sir. Unfortunately, that’s the risk of shorting shares intraday (there is a huge risk if the stock hits UC)
That’s the max range sir. If there are buyers at lower level, your cost of buying will be less. between 265-318
My entire capital vanished. At least i should have an option to exit. Blocking my account, not showing the existing position. Really really terrific. 100% capital fucked!
The most brutal rules about short selling. I lost total capital. Price didnt even crossed 270 since last 3 months. Why would my account fucked for 305. Now account is showing-25k. On a songle trade fucking 65000:rage:
this is horrible