GSM stands for Graded Surveillance Measure, a framework introduced by SEBI in collaboration with the exchanges. Its primary aim is to enhance market integrity and safeguard the interests of investors. The list of stocks under GSM can be monitored on NSE (NSE-GSM) and BSE (BSE-GSM) websites. For more details you may download FAQs provided at the bottom of this link (NSE-FAQ)

Here are the four stages of surveillance actions:

Stage 1The applicable margin rate is 100%, and the price band is 5% or lower as applicable.

Stage 2Trade for Trade with a price band of 5% or lower as applicable, and buyers need to deposit an Additional Surveillance Deposit (ASD) of 50% of the trade value.

Stage 3Trade for Trade with a price band of 5% or lower as applicable, and buyers need to deposit ASD (100% of trade value).

Stage 4Trade for Trade with a price band of 5% or lower as applicable, and buyers need to deposit ASD (100% of trade value) with no upward movement allowed.

At Tradejini fresh buying is not allowed for stocks in GSM Stage 2 and above, but if you already hold stocks in your account, you can sell them.