Hi All
I have been using Religare for quite some time now and have questions on the user interface and how I can use the RaceLite account to buy/sell shares. I got answers to few questions from this thread. But I have some more.
Please help me out with the following:
1. How do I short sell shares? What is the concept of Auction?
2. What is Obligation in Trading Account drop down.
3. What are all the drop down options that come in for example:
4. What do Order Terms - DAY and IOC mean?
5. Under Trading Account - DELIVERY, What do TRADE TYPES - DPF, DPH and BEN mean? (PS> I get these options if I try to SELL a stock, not BUY).
6. Also, when I try to Sell a stock(Intraday), I get the error:
"xxxxxxx does not have sufficient permissions to place order on ABCStock from INTRADAY"
7. Again, in Delivery, when I right clicked on a scrip(whose stock I have purchased for delivery long ago) and select SELL from the context menu and confirm the oder to sell in DELIVERY with all other options as default, I get the error:
"xxxxxxx does not have any Free Stocks (INExxxxxxxxxx) to sell."
Any idea why I get these errors?
8. Next, if I specify a limit order to buy a certain stock, the balance in my account gets locked up and if the order doesnt get executed, when does the money get freed so I can give an order again?
9. And last question: How do I avoid the session getting expired (if its possible). If I leave the window inactive for some time and I get back and give a trade order, it logs me out saying the session has expired. Can this logout functionality be disabled?
Please help me out with these queries. I recently lost some money due to selecting the wrong option unknowingly. Dont want to do that again.
Thanks
Sreenath
1. choose "margin/intraday" in trading account type, and sell shares (All Nifty/junior nifty/midcaps/largecaps are available for short selling). But you have to cover the shorts before the market closes. short-selling is only meant for one day. If you do not cover the shorts, then broker buys the shorted stocks on your behalf (as required by sebi) but if broker does not cover the shorts, as with religare's account (not racepro), your shorts will be covered by the NSE/BSE on 5th day and you'll be fined 15-20% on the auction settlement. please search for "auction" in traderji, where auction is explained many a times.
2. Obligation is the "Shares due to you before the delivery" (delivery happens on 3rd day) but there are around 200 shares which can be sold on the next day, before delivery. suppose, you buy 1 share of reliance today, and tomorrow, you see profit, you can sell the 1share from the obligation, if you do not sell/touch obligation shares, then it will be moved to DP Holding.
3. options:-
4. Day - valid for the day i.e., 3:30pm then the order expires
IOC - immidiate or cancel, An order requiring that all or part of the order be executed immediately after it has been brought to the market. Any portions not executed immediately are automatically cancelled.
5. DPF - don't know, DPH - depository holding (you own the shares) BEN- beneficiary (you'll be getting the shares (like obligation))
6. around 200 stocks can be traded intraday, examples: reliance, tatasteel, ballarpur, ispatind, ttml, jpassociat, etc.. but remaining others can't be traded intraday (not allowed by nse). If it is showing Intraday trade not allowed then don't try to do intraday with those shares.
7. Yes, this is a bug i guess, You need to go to obligation report or asset reports, holding, netposition (so many places to find
when you find your "delivery shares" choose "Square-off"
8. cancel the previous order, and try ordering a new one. it may take 5-15 minutes to release the blocked margin.
9. that's a security feature. even software racepro, odin diet has session timeout.