Circuit limit
Market basicsAlso called: Upper circuit
A regulatory cap on how far a stock or index may move in a single session.
In plain terms
A stock stuck at its lower circuit has no buyers at all — your sell order simply queues.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Naked short selling
Trading & ordersSelling shares that have neither been borrowed nor arranged to be borrowed before the sale.
In plain terms
Not permitted in India, and the prohibition shapes everything else about shorting here. An intraday short that cannot be squared off — a stock locked at its upper circuit, say — becomes a short delivery and is closed out at a deliberately penal price.