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

[aravindhaa]

Intraday trading means trading on the same day. So its mandate to close on the same day.

 

[Baby]

closing intraday position is based on what position a trader is taking. If the trader takes long position then it is not mandatory to close the position.

If the trader takes the short position then its mandatory to close the position on the same day.

[Prasanna]

Any trading ( buy and sell/ sell and buy) done within a single day is called intraday. if a short position is taken it is mandatory to buy the stock within close of the market or else it will be bought in the auction market the next day with penalty. its not so when u buy a stock, it can be sold on the same day or next day or week or months…. based on the trader.

[Gokulnath]

If short position is created, then you have to complete the trading within a day. otherwise your broker will collect penalty from you.  If long position created, then you need not complete the trading within a day.In this case the trading is not comes under in Intra day.

[Geetha]

Intraday position needs to be closed on the same day, then only it is called intraday. It is mandate in cases where a short position is created.

[Author]

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