Can IIFL square off If I have any position in equity and scrip moving towards upper freeze or lower freeze ?
Yes. Reason for doing square off of short position is to avoid short delivery in the exchange and to avoid auction penalty. IIFL tries to square off short positions of non derivative scrips before price on the upper side. There might be chances that the short position doesn’t get squared off if price moves towards freezing in a spike.Once scrip reaches the upper circuit / Freeze then fresh Intraday short selling position is not allowed for the day. This is applicable to only equity scrips where the underlying is not active in the derivative segment.
Also for long positions to avoid any delivery IIFL tries to square off position for non derivative script before script breches to lower freeze.