This Friday(17-Aug-2007) i had a problem while trading in icicidirect.com.
The problem is :
I bought shares of INDIABULLS FINANCIAL SERVICE on margin with following quantity and amount :
11:11 AM - 45 shares @ Rs. 481
11:26 AM - 40 shares @ Rs. 465
12:03 PM - 40 shares @ Rs. 448
When i further thought of buying same shares @ Rs.407, I got stuck. Then to find whether the order was placed or not, I checked my order book.On seeing the order book, I was shocked. There was a System Placed Market order :
12:15 PM - (System Placed Market order) 125 Shares @ Rs. 414 & executed @ Rs. 406.45.
At the same time, my dad had shares of INDIABULLS FINANCIAL SERVICE @ margin. For which there wasn't a System Placed Market order.
Why does this happen to me? I know that 12:15 PM is not a close down time for margin trade. As I usually buy shares in margin and convert it to delivery on or before 2:00 PM. This made a loss of nearly Rs. 7500.
The problem is :
I bought shares of INDIABULLS FINANCIAL SERVICE on margin with following quantity and amount :
11:11 AM - 45 shares @ Rs. 481
11:26 AM - 40 shares @ Rs. 465
12:03 PM - 40 shares @ Rs. 448
When i further thought of buying same shares @ Rs.407, I got stuck. Then to find whether the order was placed or not, I checked my order book.On seeing the order book, I was shocked. There was a System Placed Market order :
12:15 PM - (System Placed Market order) 125 Shares @ Rs. 414 & executed @ Rs. 406.45.
At the same time, my dad had shares of INDIABULLS FINANCIAL SERVICE @ margin. For which there wasn't a System Placed Market order.
Why does this happen to me? I know that 12:15 PM is not a close down time for margin trade. As I usually buy shares in margin and convert it to delivery on or before 2:00 PM. This made a loss of nearly Rs. 7500.