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What will be the buy average, if I sell trade to trade stocks from holdings & buy it again the same day?

For stocks in the Trade to Trade (T2T) category, the buy average is calculated on a pure FIFO (first in first out) basis.

Let's understand this with an example -

If you bought 100 shares of IBVENTURES for Rs 600 on 1st April 2018. On 1st August, you sell it for Rs 700. The price drops the same day and you buy it again the same day for Rs 690.

So as per FIFO basis,

1/04/2018 - Buy - Rs 600
1/08/2018 - Sell - Rs 700
1/08/2018 - Buy - Rs 690

Since these are T2T stocks, this won't be considered as an intraday trade. So the new buy average will be Rs 690.