Suppose if I hold 100 shares of ITC and if I short 75 stocks of the same security in MIS and it hits circuit limit will I get fine incase of auction? How would that play out?
Will MIS shorted stock get auctioned if I hold more than shorted stock incase of circuit limit?
This would come as a normal sell as you have shares, product type is only for broker to provide leverage for intraday trades, exchange won’t differentiate any buy/sell based on product type, so in above case there will be no auction.
So you are saying that exchange will just deduct 75 shares from holdings and provide the debit or credit amount based on which circuit limit has hit?
Example incase of Upper circuit my MIS position will be in loss but CNC position will be in profit but at which price will the MIS product will close the position? How is that decided?
Can you provide one example? I am confused how this will be settled at the end of the day and what would be position next day?
Also who is your favorite batsmen?