ICICI Direct - how to short sell - please advise

[prashant_singh]

You had mentioned right about brokerage. What I mean to say that icici do not allow margin trading when there is big movement in market <for safety of the customers >. At that time they will allow only in cash. in the case of auto squareup they will do it from 2-45 to 3-15 pm ANYTIME as per their comfort. Web site will never responce when most needed.
regards
krm


p.s. are you from icici?

Dear Fr I am not from ICICI. I have three Dmat A/c 1. 5paisa (since 3year) 2.ICICI (4month ). 3. Angal

but my fav A/c ICICI but a cons. ICICI NOT GIVE TICK DATA. Web site always responce since 4 monts may be i and do margin trading without any problam.

 

[ARMHM]

ARMHM,

You comments have no base as shortselling is well suitated for any kind of traders.
Also ICICI Direct have no such hard core restrictions in short selling. All brokers are allowing to short sell in some certain stocks only.

Also the process of shortselling is not at all a complicated thing and there is no meaning for your advise to "never short sell" hahahha.....

ALSO ITS VERY DANGEROUS TO TRADE WITH ICICIDirect BROKER FIRM BACASUE THEIR PLATFORM IS EXTREMELY BAD. THEY WILL SHUT THEIR SITE OFF DURING MARKET HOURS MANY TIMES, THEY WILL NOT EXECUTE YOUR ORDERS FASTLY, THEY WILL NOT ALLOW YOU TO KEEP YOUR TRADING POSITIONS AFTER 2:45PM, AND LOT MANY PROBLEMS. Use some good brokers like sharekhan, religare, etc with their trade terminal softwares rather than web interface.

Hari.

What you are talking about is "short selling intraday only". Yes it is allowed by every broker including ICICI. What I meant was shortselling on delivery basis which is a complicated process and should be left to experts only. I think you got my point.

 

[vpsarathy]

SHAREKHAN'S GREED

There seems no one to the greed of Sharekhan. Now they have started new schemes to trap clients. You pay annual brokerage of Rs1 lac in advance. The same will be adjusted everymonth against brokerage payable by you till end of the year.No interest will be paid to you.

Here you get to pay --

Delivery .1%
Intraday .015% one leg only
Futures .015% for first leg
same day exit- none - for 2nd leg
next day exit-.015%- for 2nd leg

There are schemes for lower levels too.

Earlier they were giving lesser brokerage based on clients past performance but nowgreed has over taken them. Looks like, they now want that all investments should be financed by clients only.

Isn't this day light robbery. Isn't there a law against such schemes? Is SEBI sleeping as usual?

They have disputes with many of their franchisees and some have left them.
I advise people not to fall prey to these schemes. What if sharekhan has too many problems with franchisees and winds up. The money will never be refunded.

Beware of Sharekhan and the likes of them.

vps

 

[TFL]

Dear Fr I am not from ICICI. I have three Dmat A/c 1. 5paisa (since 3year) 2.ICICI (4month ). 3. Angal

but my fav A/c ICICI but a cons. ICICI NOT GIVE TICK DATA. Web site always responce since 4 monts may be i and do margin trading without any problam.

prashant_singh,

ICICIDirect was out of order and they posted "closed for technical issue" 2 days int he last week. Hope you have not seen it.

STRONGLY DISSAGREE IN DAY TRADING WITH ICICIDirect.

Hari.

 

[TFL]

What you are talking about is "short selling intraday only". Yes it is allowed by every broker including ICICI. What I meant was shortselling on delivery basis which is a complicated process and should be left to experts only. I think you got my point.

There is no "shortselling on delivery basis" in stocks but shorts can be created with futures and options.

SOME BROKERS EVEN ALLOWS (non delivery based) SHORTS TO BE CARRIED FOR UPTO 3 or 6 DAYS. THIS IS NOT ADVISABLE TOO.

 

[ARMHM]

There is no "shortselling on delivery basis" in stocks but shorts can be created with futures and options.

SOME BROKERS EVEN ALLOWS (non delivery based) SHORTS TO BE CARRIED FOR UPTO 3 or 6 DAYS. THIS IS NOT ADVISABLE TOO.

It seems you have limited knowledge about shortselling.

 

[stockBond]

Mr Nathan
In icicidirect.com you have to use either margin plus trading for short selling. Otherwise you can choose normal sell mode/fast sell mode and there you have to select the product margin from the drop down menu.(cash/spot/margin). Earlier I used to trade thro' this drop down menu only. I am not sure whether this product margin is available or not now in sell or fast sell mode.

Plz explain the process of shorting. How much money should be in a/c before I short-sell ?

 

[stockBond]

SHAREKHAN'S GREED

There seems no one to the greed of Sharekhan. Now they have started new schemes to trap clients. You pay annual brokerage of Rs1 lac in advance. The same will be adjusted everymonth against brokerage payable by you till end of the year.No interest will be paid to you.

Here you get to pay --

Delivery .1%
Intraday .015% one leg only
Futures .015% for first leg
same day exit- none - for 2nd leg
next day exit-.015%- for 2nd leg

There are schemes for lower levels too.

Earlier they were giving lesser brokerage based on clients past performance but nowgreed has over taken them. Looks like, they now want that all investments should be financed by clients only.

Isn't this day light robbery. Isn't there a law against such schemes? Is SEBI sleeping as usual?

They have disputes with many of their franchisees and some have left them.
I advise people not to fall prey to these schemes. What if sharekhan has too many problems with franchisees and winds up. The money will never be refunded.

Beware of Sharekhan and the likes of them.

vps

Plz explain the process of shorting. How much money should be in a/c before I short-sell in icicidirect? Does that money get blocked until I square-off ?

 

[aces27]

Hi ,


1.When we try to sell we have multiple options
Cash - regular buy and sell
spot - could you please tell what this is ?
margin - as it was mentioned this is what we must select to short sell (sell first , buy end of the day)

the margin option is not available if we select BSE. the scrip which i am looking to short sell is available only in the BSE.

Also I have an account in Sharekhan - when I try and short sell in that , it clearly says that short selling is not allowed in this group.

Basically is it possible to short sell a stock in the BSE in ICICIDirect , if so
can i do -> sell margin / spot and in the evening buy the same thing cash

as this is what is available in the drop downs.


Thanks for the assistance.