If you don't take any action like square off or roll over of positions to the next month expiry, 4 trading days before expiry, then in order to avoid physical settlement of the open position, AxisDirect will attempt to square-off these near month Physical Settled Stock derivative positions on best effort basis. This action can be initiated either on the expiry day during Trading hours (i.e any time after 9.15 am) or before the expiry day, at the discretion of AxisDirect. 

AxisDirect will not be responsible for resulting losses including opportunity losses etc