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

[thandapani]

yes,intraday trade close same day, if stock hold next day exchange squared off the stock,penalties gives to the trader

[Leelakrishna]

We need to close the Intraday position on same day especially for the short positions,

Normally settlement will happen after the market hours by that time the stock which you sold we need to show else Exchange will go and buy the same position in the Auction market with more price for that exchange will put penalty.

 

[Abhishek Singhvi]

Intraday position is created without actual delivery of shares.
It is mandatory to close intraday position within a day.

[prabhaker]

In intraday buying and selling to be completed within working hours of stock exchange

It is mandatory, otherwise we have to pay penalty to exchange through auction market, when we made short position in trading on the day

[R . Vinay Kumar]

Closing / squaring off the trade becomes mandatory if we take a short position.

If a long position is taken , not mandatory.

But Intraday positions are usually squared off within a day.

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