Suppose i brought a share of 100rs at 11. 30am and forget to sell before 3:20pm At that time the price was 97rs. Does the intraday square off takes place at this price or above this price
Intraday square off will only happen if you have bought the shares under MIS and CO/BO product codes.
In zerodha, square off happens around 3:22 pm (somewhere between 3:20 to 3:22 pm), so it will pick the price exactly around 3:22 pm and sell it.
If its 97 rupees, at square off time, it will be sold at 97 only or little less than 97 (which is best available market bid price at that time) not above.
Note all square offs are market orders, you might face slippage.
At exactly Rs. 97/- at 3:20 pm, square off will take place, Computers do it.
Yes, unfortunately your position gets auto squared-off unless you have sufficient margin and call up your broker saying them to convert it into delivery but since you forgot it, it will be off-loaded by system automatically.
What happens if there is no sufficient number of buyer to buy the entire quantity at 3.20/3.22 pm?
What will happen to the remaining number of quantity of stocks?
the un sold shares automatically results in delivery which youmay be able to sell next day ( BTST ) with normal market risk.