Margin Money

M

math

New Member
#1
#1
I want to know about margin money. I have heard that If I use margin money to buy/sell , at the end of the it will automatically square off. I have both my trading account and demat account with India Infoline.

On friday I bought 200 scrips of ivercl infra for 416. First I put this to sell for 423. But then I modified this to Rs.419.60. But when the price went down I tried to cancell it. but it was rejected by the NSE. the reason given was the selling id "does not Exist". Any way at the end I squared off it for Rs. 417.50. But today when I checked my balance I can see 200 additional scrips are sold for me for the price of 419.60..using margin money. (see attachment)

Why didn't it squared off. In my account I had only Rs. 20,000 as cash balance. I need clarification on this. Also, what are their delayed charges???

HAPPY DIWALI

Thanks
 
M

math

New Member
#3
#3
anuragmunjal said:
hi.
after seeing ur statement, ur original order for sell at 419.6 got executed, and u again sold 200 shares @ 417.5. now u will have 2 deliver these shares or else they'll get auctioned.

regards

Anurag
Click to expand...
Thank you very much Anurag for the reply.:) Now, how do i deliver these shares? Today when I tried to buy again 200 shares ( so that i can square off) it was rejected by exchange as there was not enough fund. So, should i transfer the shortage fund to my demat accound before i sent a buy request?

I couldn't get sufficient information about this from their site and my RM is not even responding.
 
H

hills_5000

Well-Known Member
#4
#4
There is a thread .. Angel Sold off more than i Hold.. go through that ..you will get your answers...

Write an email to your brokerage that you havnet understood the features of their sofware and ask them to send someone over or talk you through the software features over the phone. DO NOT trade until you have understood all the features.

PS : here's the link ... http://www.traderji.com/investors-grieviences/34244-angel-broking-sold-more-than-what-i-have.html


math said:
Thank you very much Anurag for the reply.:) Now, how do i deliver these shares? Today when I tried to buy again 200 shares ( so that i can square off) it was rejected by exchange as there was not enough fund. So, should i transfer the shortage fund to my demat accound before i sent a buy request?

I couldn't get sufficient information about this from their site and my RM is not even responding.
Click to expand...
 
Last edited:
S

srtrader

Member
#5
#5
Hi I am new to share market and I am also facing the same problem. yesterday I did intraday trading and by mistake i sold 65 shares of 'XYZ' in advance without buying that share. Today in my trader terminal it shows Rs. 10080 as undelivered amount.

Can anyone explain me how to resolve this problem?
 
M

math

New Member
#6
#6
srtrader said:
Hi I am new to share market and I am also facing the same problem. yesterday I did intraday trading and by mistake i sold 65 shares of 'XYZ' in advance without buying that share. Today in my trader terminal it shows Rs. 10080 as undelivered amount.
Can anyone explain me how to resolve this problem?
Click to expand...
Either you have to transfer the money and they will lift your trading limit. Otherwise it will be settled by market auction on T+4.
 
A

abc111

New Member
#7
#7
Hiiiiiii FRNDS I AM JUST A BEGINNER TO THIS STOCK MARKET AND APPLIED FOR DEMAT ACCOUNT.CAN ANYONE PLEASE TELL ME WHAT IS LEDGER BALANCE??
 
R

Raghavacc

Well-Known Member
#8
#8
math said:
I want to know about margin money. I have heard that If I use margin money to buy/sell , at the end of the it will automatically square off. I have both my trading account and demat account with India Infoline.

On friday I bought 200 scrips of ivercl infra for 416. First I put this to sell for 423. But then I modified this to Rs.419.60. But when the price went down I tried to cancell it. but it was rejected by the NSE. the reason given was the selling id "does not Exist". Any way at the end I squared off it for Rs. 417.50. But today when I checked my balance I can see 200 additional scrips are sold for me for the price of 419.60..using margin money. (see attachment)

Why didn't it squared off. In my account I had only Rs. 20,000 as cash balance. I need clarification on this. Also, what are their delayed charges???

HAPPY DIWALI

Thanks
Click to expand...
Math,

Even I do have an A/c with India Infoline. You are right since last one week or so their server has become bad to worse and this has been even accepted by my RM.

Even I am facing issues like huge delay in execution of S/L orders even though S/L is triggered, Inability to cancel orders and resulting in higher losses.this has become intolerable and I am going to meet my RM and make it clear that its not acceptable.

I suggest that you catch hold of your RM and also write a mail to his higher ups regarding the same.
 
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