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Why are sold holdings bought back on the same day?

Your sold holdings are bought back on the same day when you select MIS (Intraday) instead of CNC (Longterm) for selling your shares.

MIS creates a sell intraday position that must be squared off before market closure. If you don't square off the position, Zerodha may square off your position and charge ₹50 + 18% GST as auto square-off charges.

To sell your existing holdings, always select CNC (Longterm) to avoid creating an intraday position.

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