Sharekhan: Delivery instruction book?

Hi guys,
I am planning to go for Sharekhan primarily because I had the impression that it was the only site working in these past few days when ICICIDirect just collapsed

I am willing to pay higher brokerage in exchange for reliability - I am an investor rather than a trader.

One good thing that ICICIDirect has is the "delivery instruction slip" facility. This way I will be able to transfer shares to whatever new broker I want.

I want to understand if Sharekhan gives the same facility. Because I am worried that once I am locked in with Sharekhan I wont be able to leave.

All brokers are required to permit security transfers within the same depository or inter depository. Most have the pay in slip books others require a letter but you will be provided this facility, just call sharekhan customer care and ask them the method they use.

You can also leave any broker at any time so don't worry.

Hi Friends...
I am a new trader on the block. But I have learned quite a lot many good things from Traderji.
I have the trading account with SHAREKHAN. In the carnage that happened this week, I had sold all my stocks on monday morning (21 jan).
Yesterday, after the market recovered a bit, I thought of buying back my stocks. So, I logged into my account. I had around 1 lac rupees with my account. So I thought I would be able to buy many of my favourite stocks at a bargain price.
As I punched the order, my trading terminal said "Not enough money in the account".
I was highly surprised. Since, I had sold all my stocks on Monday, I hadn't experienced all the losses that happened in next two days. SO, I was expecting at least 1 lac rupees in my account.
So, I checked my limit statement and it said only 25 thounsand. Now, how is it possible... I know I will get my money back, but what's the point. I mean, if you cannot buy at this time then what's the point in getting back ur money later..

Today, I was reading some threads in traderji. And I found that its not only me but many other small investors who are facing the same problems.

So, in spite of having money in our accounts, we cannot jump in to buy our favourite stocks at this 'highly important time'.
Now, my serious question is, WHAT IS THE USE OF BEING TRADER URSELF WHEN WE GET SUCH TYPE OF SERVICE IN INDIA.

ISN'T it best to simply invest in Mutual Funds. At least they can buy and sell the stocks at the appropriate times.


I feel pathetic seeing the services of INDIAN financial companies..

Thanks..
Please reply and write your invaluable comments..

SUNIL

if you're with icici i assure you this won't happen though there are other drawbacks

Yes Barring the high brokerage IciciDirect is still the best because you dont have to call them to transfer money to your bank a/c because they do it regularly which even the offline brokers dont do it now a days.
All other brokers keep your money in the pool a/c as they know that you are going to buy or trade. SO infact they are using your money when you dont trade.

So Trade less and trade & Invest with icicdirect safest of all.

There are many advantages with icicidirect then with any other brokerges.
one is the saftey point. saftey of your shares in your demat a/c. saftey of your money which is not lying with them when you dont trade but in your 3-in 1 linked savings a/c which earns you savings interest.

And the high brokerges are the extra charges which you pay for saftey.

I keep a real time trade terminal of an online broker to see the live charts and punch inorder in icicdirect . even daytrading is possible .

yes but you dont get other credit facilty which other brokers give. But then it boils down to what type of trading you want to do. if you are a position trader or medium term or long term trader/Investor than icicidirect is the best.
and if you are Hni having crores of rs of shares than icici is the only safest among all the online brokers.
I dont think it is safe to keep crors of shares shares with your so called online brokers.
But you dont have to worry if you are with icici.
I am having icici a/c since 2001 and have not found any problem with them.

-sanjayt

Thanks for your replies....
I am really pissed off with ShareKhan these days...

friends lets not forget their are better brokers than sharekhan & icici direct..