Doubt about Intra Day

sridharb50 · #1 27th December 2007, 02:47 PM

Hi everyone,

I am new to Investing, entered 20 days back and preferred short term trading. In these 20 days, I got considerable profit. Now I want to enter in to Intraday. But I have some doubts.

If I purchased X scrip in the morning (with Cash and no Margin/Funding), and the price of that scrip is moved up, in this case I can sell the stock and book profit.
But, if the scene reversed, means that scrip comes down; can I take delivery of this scrip? (for short term holding)

Is it permissible? I am using ICICI Direct and it is not allowing the same. If I want to do Intraday, there is a separate section called Margin Plus. If I want to take delivery I have to use "Buy" Section.

If any broker allows me to take delivery in the above case?

Please let me know about this issue.

Thanks & Regards

Sridhar

SpeedBall · #2 27th December 2007, 02:59 PM

AFAIK, if you do Margin trade instead of Margin plus, you have an option to take delivery at the end of the day, provided you're not taking exposure and your account has sufficient balance.

sridharb50 · #3 27th December 2007, 03:20 PM

Quote:

Originally Posted by SpeedBall

AFAIK, if you do Margin trade instead of Margin plus, you have an option to take delivery at the end of the day, provided you're not taking exposure and your account has sufficient balance.

Thanks friend. I understood that, in "BUY" section, I have to select "Margin" instead of "Cash" from the dropdown box.

I hope this works well

Thanks & Regards
Sridhar

bhaveshdj · #4 2nd February 2008, 10:57 PM

If you are making good profits in short term trading, y go for intraday. I used to daytrade nifty options and was doing quite well in that. But I got jelous of people who were making lots on money in short term trading, so took few short term pos in good shares, and the crash took place and I lost lot of money. Now I am back where I am good at and my confidence is slowly coming back. So you should stick to your niche and keep doing what you are good at.

sillu_m · #5 3rd February 2008, 12:16 AM

Quote:

Originally Posted by sridharb50

Hi everyone,

I am new to Investing, entered 20 days back and preferred short term trading. In these 20 days, I got considerable profit. Now I want to enter in to Intraday. But I have some doubts.

If I purchased X scrip in the morning (with Cash and no Margin/Funding), and the price of that scrip is moved up, in this case I can sell the stock and book profit.
But, if the scene reversed, means that scrip comes down; can I take delivery of this scrip? (for short term holding)

Is it permissible? I am using ICICI Direct and it is not allowing the same. If I want to do Intraday, there is a separate section called Margin Plus. If I want to take delivery I have to use "Buy" Section.

If any broker allows me to take delivery in the above case?

Please let me know about this issue.

Thanks & Regards

Sridhar

For intraday trading u have to change ur terminal.....as in daytrading only one second can change ur trade into loss...To react to market situation rapidly in day trading ICICI is not a good bet, their brokerage will suck ur trade. Use fast terminal like INDIABULLS, their software is good...or other good brokers

Raju · #6 3rd February 2008, 09:52 AM

I was with ICICDIRECT and have closed the account with them due to high brokerage.ONLY GOOD feature they have is BTST ..I think(though I have not used that feature)..In sharekhan if I buy today and sell tomorrow..it is surely going to go in auction..(very few stocks don't create problem..)
Raju