Spent the last four months taking part in the stock market challenge at dsij.com but despite this I am a real noob so please allow me to ask some stupid questions. I think I am ready to switch to the real deal and got a demat account lined up with a cousin at icicidirect (created the account but got cold feet at the last moment). Thought about starting small (10-15k) and focusing solely on intraday or swing trading to boost the capital over the next couple of months but have a couple of questions which I hope you guys will be kind enough to answer.
1) The first major confusion for me was watching a video at icicidirect where the actor told me that it will take two days for the share purchase to be reflected into the demat allocation. What does this mean? I will have to wait for two days before I will be able to sell those back again? (there is nothing 'intraday' here so I believe I will be able to sell it that day itself..just thought I should cover all my bases)
2) Is there a minimum time period that I should hold on to the shares? For example...I purchase 100 shares of a company @ Rs 100 each right when the market opens (are you able to do this?) and say 30 minutes later the share price is currently around 110-111...if I sell at that moment...thats roughly a return of Rs 1,000 (minus of course the brokerage fee and all the other fees) Am I allowed to do this? And carry out similar trades 2-3 times a day? (I know that will not happen..just speaking hypothetically)
3) Tried searching the website but did not get any clear cut answer..so those who are using icicidirect.com...what is the brokerage amount that they charge and the other charges involved?
1) The first major confusion for me was watching a video at icicidirect where the actor told me that it will take two days for the share purchase to be reflected into the demat allocation. What does this mean? I will have to wait for two days before I will be able to sell those back again? (there is nothing 'intraday' here so I believe I will be able to sell it that day itself..just thought I should cover all my bases)
2) Is there a minimum time period that I should hold on to the shares? For example...I purchase 100 shares of a company @ Rs 100 each right when the market opens (are you able to do this?) and say 30 minutes later the share price is currently around 110-111...if I sell at that moment...thats roughly a return of Rs 1,000 (minus of course the brokerage fee and all the other fees) Am I allowed to do this? And carry out similar trades 2-3 times a day? (I know that will not happen..just speaking hypothetically)
3) Tried searching the website but did not get any clear cut answer..so those who are using icicidirect.com...what is the brokerage amount that they charge and the other charges involved?