Comment on Classifying Your Market Activity

vikrant commented on 19 Feb 2016, 01:52 AM

I am a daily stock market trader. i do intraday & take short term (4-5 days) deliveries also. But this time due to bad market condition, i am holding my short term position in a specific stock for more than 2 months and i have incurred heavy loss in that scrip. i have bought different quantity at different point of time at different prices
now i find it difficult to do accounting for them and show that as my investment for long term, as i have done intraday trading in them and short term trading also. now i plan
to keep this stock for more than 1 year.should i sell my current holding in this stock at on a given day at a price and book them as short term capital loss. and buy
same stock at a price the very next day and keep that for more than one year to claim long term capital gain.

Thereofore can i be a intraday trader with loss(which is to be carry forward for 4 year) and have short term capital loss(to be carry forward for 8 years)
and also have long term stocks (to be kept for more than 12 months). secondly, in the above description, can i show shore term capital loss in this stock and long this same
stock for long term(more than 12 month),so that i claim short term loss to be carry forward for next 8 years and benefit long term capital gain for this stock to be hold
more than 12 month.

Please Advice, you will be highly appreciated.

Thanking you

you sincerely.

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