Why do we need to close the intraday position on the same day? Is it mandate?

[Fathima Shafi]

Intraday trading requires squaring off on the same day. Squaring off trade means closing the long position with long unwinding and closing the short positions with short covering before the market closes. We need to explicitly specify that it is an intraday transaction. However long position has the option of changing the delivery later before market close.

[lk]

In long possession its not mandatory but in short possession its mandatory.

[kadhirvelu]

Intraday position needs to be closed on the same day for short position . The brokerage company loans shares and need to be settled before the market close as per exchange norms .

[Jayashree]

Intraday position should be closed on same day since the market sentiments and trend may change the next day. If a short position is created in intraday and if it is not closed then the trader is subjected for a penalty.

[Gowri Santhosh]

For Intraday trading the transaction has to be completed the same day before 3:30. It is a mandate for short position to buy back before 3:30 to avoid any penalties from exchange.

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