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

[Ananthakrishnan]

We need to close on the same day since the name itself suggests Intraday ,it is done to gain profit/loss with in the day as it is spot market.

But it is not mandatory,if you trade on same it is treated as Intraday otherwise positional.

[Aravind T]

It is suggested to square-off the intraday position within the same day because you cannot predict the market sentiment for the next day and it might be better or even worse.It is not manadatory but it is suggested to do so because it might be of more risk.

[Mohammed Arshath Ali]

The intraday position should be closed on the same day in order to minimize the risk of uncertainty.

[Leena Nathan]

Intraday position should be closed on the same day because of the price uncertainity. Intra day price is moved by emotions of the market.

[Supriya Rayabhagi]

It is not mandatory but it is suggested to close because in order to minimize the risk of uncertainty. If not closed on the same day it will be considered as positional.

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