QueryAbout ICICI direct: Margin postion converted to Delivery

swagat86 · #1 20th February 2007, 10:26 AM

HI Frndss,
if i say short 10 reliance @ 1420 in Margin and then i covert it to delivery.

wat wud be my BUY price at the End of the Day. Will it be 1420 or.....???

PLs Reply

Thanks

sattimes · #2 20th February 2007, 01:56 PM

Quote:

Originally Posted by swagat86

HI Frndss,
if i say short 10 reliance @ 1420 in Margin and then i covert it to delivery.

wat wud be my BUY price at the End of the Day. Will it be 1420 or.....???

PLs Reply

Thanks

hi Swagat,

it goes something like this

1. first of all u can't convert ur 'short' position to delivery unless u already have 10 reliance share in ur DP account. in this case ur sell price for these 10 shares is 1420.(i e. it is somethink like u r selling those 10 shares which r in ur DP @ 1420)
3.now if u are long(assume) at 1420 and price comes down to 1400(say), u can definitly convert it to delivery hoping that it will moveup in coming days . in this case ur buying price will be 1420.

regds
Satish

swagat86 · #3 20th February 2007, 02:28 PM

HI sattimes,
u mean i cant short a stock and if it moves against me i cant take take delivery. Oops starnge.
i thought we can do that.

Thanks buddy

sattimes · #4 20th February 2007, 02:52 PM

Quote:

Originally Posted by swagat86

HI sattimes,
u mean i cant short a stock and if it moves against me i cant take take delivery. Oops starnge.
i thought we can do that.

Thanks buddy

hi swagat,

u can always short in margin. but u cant covert to delivery unless u have that stock in DP as i told before.

eg,assume u bought 10 rel shares at 900(say) few days back, now if u short 10 shares in 'margin' at 1420 and it moves to 1500, now it is better to convert it into delivery so that u will be still in profit of ( 1420-900) per share.
remember that the sell price will be still 1420 not 1500

regd
Satish

swagat86 · #5 20th February 2007, 06:08 PM

Quote:

Originally Posted by sattimes

hi swagat,

u can always short in margin. but u cant covert to delivery unless u have that stock in DP as i told before.

eg,assume u bought 10 rel shares at 900(say) few days back, now if u short 10 shares in 'margin' at 1420 and it moves to 1500, now it is better to convert it into delivery so that u will be still in profit of ( 1420-900) per share.
remember that the sell price will be still 1420 not 1500

regd
Satish

Thanks brother

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