Your position may get squared off in the following scenarios -
1. You have an MIS or Cover order position which you haven't closed until the designated square off time.
Typically, the intra-day auto square off timings are:
Cash - 3:20 pm
Equity Derivatives - 3:20 pm
Currency Derivatives - 4:45 pm
Commodities - 25 minutes before close
2. You have a position where you have not maintained sufficient margin . You will be sent a margin call SMS and if you still don't bring in the required funds, your position may be squared off at the discretion of our RMS team.
3. If your MTM losses exceed 70% your position can be squared off.
4. Pledged shares are squared off in case of a drop in the value of shares or loss in collateral margins.
5. Your open positions can be squared off if you place an unpledge request for your pledged shares but don't have adequate cash balance.
Note: Auto square-off (Call and trade) charges of Rs 50 (+GST) apply for each order squared-off by our system. It is recommended that you close your open intraday positions before the above mentioned time.