Query Related to Margin Calculations at ICICI Direct

[miteshmanani]

Dear Sir,

I had allocated Rs 40,000 and Sold Nifty Futures on 7th March 2014 1 Lot = 50 Quantity @ 6584.30
Total Traded Value was 329215 (6584.30*50) on which
Brokerage @ 164.61
Service Tax on Brokerage @ 20.35
STT @ 33
SEBI Charges 0.33
Transaction Tax @ 6.58
Stamp Duty @ 6.58
Total : - 231.45
Margin Amount @ 26459.20
Closing Price on Nifty = 6614.80
Loss = (6584.30-6614.80)*50 = -1525
Available Limit = 40000 - 26459.20 - 1525 - 231.45 = 11784.35
Now Closing Price on Nifty at 10th March 2014 = 6630.45
The F&O Margin Statement shows
Net Amount allocated from bank account (A) = 11721.75
Which means a straight difference of Rs 62.6/- and the same got debited from my bank account.
i am unable to understand this amount as i want to prepare a calculation excel for the furthur transaction in Futures & Options.
this debit has been refrenced into my bank account as
EBA/F&OMargin10-Mar-2014/20140310190811
this is apart from the loss occurred on 10th.
any help to understand this would really be helpful.

 

[pratapvb]

Dear Sir,

I had allocated Rs 40,000 and Sold Nifty Futures on 7th March 2014 1 Lot = 50 Quantity @ 6584.30
Total Traded Value was 329215 (6584.30*50) on which
Brokerage @ 164.61
Service Tax on Brokerage @ 20.35
STT @ 33
SEBI Charges 0.33
Transaction Tax @ 6.58
Stamp Duty @ 6.58
Total : - 231.45
Margin Amount @ 26459.20
Closing Price on Nifty = 6614.80
Loss = (6584.30-6614.80)*50 = -1525
Available Limit = 40000 - 26459.20 - 1525 - 231.45 = 11784.35
Now Closing Price on Nifty at 10th March 2014 = 6630.45
The F&O Margin Statement shows
Net Amount allocated from bank account (A) = 11721.75
Which means a straight difference of Rs 62.6/- and the same got debited from my bank account.
i am unable to understand this amount as i want to prepare a calculation excel for the furthur transaction in Futures & Options.
this debit has been refrenced into my bank account as
EBA/F&OMargin10-Mar-2014/20140310190811
this is apart from the loss occurred on 10th.
any help to understand this would really be helpful.

EBA/F&OMargin will be released back to bank once you close your position. but as nf price moves and risk perception factor is changed by NSE I think the margin requirement changes and that is adjusted on an ongoing basis

 

[DSM]

What you should be concerned, especially if you are an active trader, that you are paying 6-10 times the brokerage to your current broker, whereas with a good and reliable discount broker (check the threads on TJ - there are many) you can get by paying 10-25/lot. RKSV's 1,947 monthly plan is for unlimited trading, which depending on your trading style, can save you a lot of money. Goodluck.

Dear Sir,

I had allocated Rs 40,000 and Sold Nifty Futures on 7th March 2014 1 Lot = 50 Quantity @ 6584.30
Total Traded Value was 329215 (6584.30*50) on which
Brokerage @ 164.61
Service Tax on Brokerage @ 20.35
STT @ 33
SEBI Charges 0.33
Transaction Tax @ 6.58
Stamp Duty @ 6.58
Total : - 231.45
Margin Amount @ 26459.20
Closing Price on Nifty = 6614.80
Loss = (6584.30-6614.80)*50 = -1525
Available Limit = 40000 - 26459.20 - 1525 - 231.45 = 11784.35
Now Closing Price on Nifty at 10th March 2014 = 6630.45
The F&O Margin Statement shows
Net Amount allocated from bank account (A) = 11721.75
Which means a straight difference of Rs 62.6/- and the same got debited from my bank account.
i am unable to understand this amount as i want to prepare a calculation excel for the furthur transaction in Futures & Options.
this debit has been refrenced into my bank account as
EBA/F&OMargin10-Mar-2014/20140310190811
this is apart from the loss occurred on 10th.
any help to understand this would really be helpful.

 

[miteshmanani]

you can get by paying 10-25/lot. RKSV's 1,947 monthly plan is for unlimited trading, which depending on your trading style, can save you a lot of money. Goodluck.

Hey i went through RKSV and seems to be excellent in terms of brokerage and you can almost earn small profits everyday. The brokerage that ICICI Direct and Sharekhan in futures is 0.05% and 0.1% respectively. this seems to be very high.
on the other hand if i go for a dream plan of RKSV its only 25 Rs/- i am earning lots of profit which i am unnecessarily paying to ICICIDirect or Sharekhan.
i have even applied online for opening an account.

just let me know how are the trading tools. i didnt find any demos of NEST online on their website.

Thanks once again.