Margin plus and Margin method in ICICI Direct

#1
hi
am new to icici-direct...i have a doubt..

if we buy shares using margin plus and margin methods..we have to sell them on the same day right??

so if am unable to sell them on the same day due to some reason (internet down etc).. will they be automatically sold at the ended market price on that day end or will they be wasted??

please reply

thanks
deepak
 

NOMINDTR

Well-Known Member
#2
hi
am new to icici-direct...i have a doubt..

if we buy shares using margin plus and margin methods..we have to sell them on the same day right??

so if am unable to sell them on the same day due to some reason (internet down etc).. will they be automatically sold at the ended market price on that day end or will they be wasted??

please reply

thanks
deepak
If you buy in margin plus, you must sell it on the same day. Likewise if you sell in margin plus, you must buy on same day.

In margin plus, there is no "convert to delivery"

The system will automatically square off your position after 3:10 PM
 
#3
thanks for the reply

so the system will square off at the market price at 3.10pm?? is it at market price..please confirm
and i heard that if we do not square off at the day end..then we need to pay huge penalities, brokerage..is it true??

deepak
 

NOMINDTR

Well-Known Member
#4
thanks for the reply

so the system will square off at the market price at 3.10pm?? is it at market price..please confirm
and i heard that if we do not square off at the day end..then we need to pay huge penalities, brokerage..is it true??

deepak
ICICI takes the responsibility of squaring of before the market closes.

I have seen once ICICI server was down could not square off, the settlement were as usual to clients.
 

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