ICICIDIRECT Margin Sell issue

#1
Ok I am completely new to share trading

i just opened an demate account with ICICI.

So on Friday i purchased the some share of Tata steel worth 438 with"Cash Buy" option.

on tuesday it`s price increased to 465 & i tried to sell it by"cash sell" option but it said i had to allocate the share(what is this?),I went to "demate allocation" but nothing happened there..

So i clicked on "Margin Sell" option and sold it.

Now i am getting this statement :-



I am totally confused,Do i have a deal? or my money is stuck?

Also tell me in simple words what is the margin sell?

Thank you in advance :)
 

krm

Active Member
#2
Ok I am completely new to share trading

i just opened an demate account with ICICI.

So on Friday i purchased the some share of Tata steel worth 438 with"Cash Buy" option.

on tuesday it`s price increased to 465 & i tried to sell it by"cash sell" option but it said i had to allocate the share(what is this?),I went to "demate allocation" but nothing happened there..

So i clicked on "Margin Sell" option and sold it.

Now i am getting this statement :-



I am totally confused,Do i have a deal? or my money is stuck?

Also tell me in simple words what is the margin sell?

Thank you in advance :)
Margin sell in ICICI is intraday short selling of shares. You sold @ 465 and broker covered the qty at around 469 for you.

If you have cash purchased earlier, in ICICI you have to allocate shares for selling them.

krm
 
#5
It takes 2 days to receive the bought shares in demat account..
You could have used the BTST (buy today sell tomorrow ) option..
Please note that Margin sell is an intraday activity which is squared after 3 p.m or so at current prevailing price. ( you can sell without holding shares..).

So Net is you made a loss on Marging sell on the day.. However all is not lost as you would get your shares in demat account on Friday - if not use BTST to sell and book your profit -- of course assuming the price is better on Friday.
 

NOMINDTR

Well-Known Member
#6
Ok I am completely new to share trading

i just opened an demate account with ICICI.

So on Friday i purchased the some share of Tata steel worth 438 with"Cash Buy" option.

on tuesday it`s price increased to 465 & i tried to sell it by"cash sell" option but it said i had to allocate the share(what is this?),I went to "demate allocation" but nothing happened there..

So i clicked on "Margin Sell" option and sold it.

Now i am getting this statement :-



I am totally confused,Do i have a deal? or my money is stuck?

Also tell me in simple words what is the margin sell?

Thank you in advance :)
Margin sell is intra day short sell.

If you need to sell shares you bought before settlement (T+2), i.e., before the shares come to your demat account, you have to check it in 'Security Projections' where you will find the shares you bought yesterday. From there you can sell if the stock is allowed to be sold before settlement. That is called BTST option. Buy Today Sell Tomorrow. Most of liquid stocks including Tata Steel are BTST enabled stocks. You can get a list of BTST stocks from the site. Research it.
 

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