Comment on Intraday stock trader par excellence
Rakesh,
You cannot buy on one exchange and sell on other or vice versa for intraday, what you have said in point 2 is correct.
If you see a price difference between NSE and BSE, buy it on BSE wait for 2 days get delivery and sell on NSE, that is the only way to play this out, which would not really make any sense because you would be taking a market risk for those 2 days.
Cheers,