[KGV]

I guess you meant lower circuit when you said short circuit. See whenever a circuit filter is applied, the transactions below/above that value are suspended. So if you have short sold a security at 110 (just at the opening price) and then it goes to 88 which will be the circuit filter value for that security assuming 20% circuit filter. In such a case no trade will be possible in that security for any value below 88. Actually the siituation will be ... No buyers and only sellers. So whatever the case you shall have to square off the deal at 88. Anyhow 20% is no mean amount.. I wish I do such a transaction some day!