Margin position, emergency need of cash so cant convert to delivery

I

indianapple

New Member
#1
#1
Hi,
Using ICICIdirect I bought Sintex Industries at 1435 shares @54.95, as margin buy, yesterday (I just had Rs 18000/- in my account before making the deal). Now when I am trying to sell today, booking loss, 1435 shares, it giving me a mess to convert the pending to delivery (I can't as I don't have cash) or change the mode to broker (which I changed from client to broker) but that also didn't help me sell. I am new and not sure what to do. I just have a day after which ICICI will start charging me interest. I don't have cash, so won't be able to pay for the shares. What can I do?
Previously I had 263 shares @59 of Sintex which I am trying to sell, but ICICI is not letting me sell. It's giving the same mess (convert to delivery or change mode from client to broker or broker to client). I am totally confused. Why am i not able to sell the 263 shares that I had it delivered from last 2 months???
And please help me how can I sell 1435 shares that I bought as margin yesterday (doesn't matter taking the loss).
Thank you,
Regards
 
S

SexyTrader

Well-Known Member
#2
#2
indianapple said:
Hi,
Using ICICIdirect I bought Sintex Industries at 1435 shares @54.95, as margin buy, yesterday (I just had Rs 18000/- in my account before making the deal). Now when I am trying to sell today, booking loss, 1435 shares, it giving me a mess to convert the pending to delivery (I can't as I don't have cash) or change the mode to broker (which I changed from client to broker) but that also didn't help me sell. I am new and not sure what to do. I just have a day after which ICICI will start charging me interest. I don't have cash, so won't be able to pay for the shares. What can I do?
Previously I had 263 shares @59 of Sintex which I am trying to sell, but ICICI is not letting me sell. It's giving the same mess (convert to delivery or change mode from client to broker or broker to client). I am totally confused. Why am i not able to sell the 263 shares that I had it delivered from last 2 months???
And please help me how can I sell 1435 shares that I bought as margin yesterday (doesn't matter taking the loss).
Thank you,
Regards
Click to expand...
Call the tele-broking number of ICICI Securities and tell them to sell.
 
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