What Is Meaning of BTST and what is the use of it?

BTST = Buy today, sell tomorrow.

It basically means you can buy a stock in spot today, and sell it t’row without taking delivery of it.

This is useful when you anticipate a quick upward opening in the stock.

However, be aware you can also hit the risk of auction while doing this.

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If i buy any stock and on next day stock price fall-down then…

Check this: http://zerodha.com/z-connect/queries/stock-and-fo-queries/btstatst-buyacquire-today-sell-tomorrow