What is meant by a Square-off?
Square-off refers to exiting a position. A trader buys or sells a particular stock and later reverses the transaction. That is, if you buy, you would sell and vice versa.
For example, Mr Jomon buys 200 shares of Infosys at Rs. 800 each for intraday trading. He sells them the same day before the market closes at Rs. 810 each. Hence, Mr Jomon is said to have squared-off his Infosys position for the day by trading intraday