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Why are the purchased shares not visible in the holdings?

The shares are not visible in the holdings for one of the following reasons:

The purchased shares are short-delivered.

Ideally, when the shares are purchased, they are delivered on T+1 day. To learn more, see What does settlement cycle mean?
Now, if the shares are short-delivered, it means that the seller of the shares defaulted on the settlement of shares. In such cases, the exchange holds an auction for the same quantity of shares and delivers it to the buyer. In case of short delivery, Zerodha notifies the clients via SMS and email. To learn more, see
What is short delivery and what are its consequences?

A Trade to Trade (T2T) stock is sold from the holdings.

Trade-to-trade stocks are not allowed to be traded intraday or BTST. If a T2T stock is sold from the holdings and bought back on the same day, then the stock won’t be visible in the holdings until it is settled i.e. on T+1. To learn more, see What are Trade to Trade or T2T stocks?