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

[Anitha ponnarasu]

It is mandatory. we have to close the intraday position on the same day to avoid overnight risk or we are subjected to penalty.

[T.PONNARASU]

Intraday positions are taken based on intraday analysis which will not take care of overnight risk more over if the positions are not squared off or if long position not converted to delivery position broker will levy penalty as per SEBI norms.

[Thiyagharajan]

For Intraday trading we consider overnight news/global market performance/current market fluctuations and performance/latest news/weekend news/global factors etc.
This information is good for today only and the above factors will change tomorrow. This is why we need to close the intraday position on the same day.

Mandate: No.

[Udayarka Pakala]

Intraday position need to be closed on the same day due to the contract time is with in that market time/prior to closure.

It is mandate because the if it is not settled there will be penalty as per SEBI

[Senthil]

As we use margin to trade in intraday we need to close the same day. Also short positions need to be closed on same day.

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