ICICI Direct - how to short sell - please advise

nathan · #1 20th September 2008, 01:11 AM

Friends
Can you please advise me how to short sell in ICICI direct.
Sorry if it looks very trivial but kindly take your valuable time and advise me.
As per my understanding you have to use margin trading only for this.
But treat me as a newbie and advise me

Regds
Nathan

uthuman · #2 20th September 2008, 01:50 AM

Mr Nathan
In icicidirect.com you have to use either margin plus trading for short selling. Otherwise you can choose normal sell mode/fast sell mode and there you have to select the product margin from the drop down menu.(cash/spot/margin). Earlier I used to trade thro' this drop down menu only. I am not sure whether this product margin is available or not now in sell or fast sell mode.

ARMHM · #3 20th September 2008, 04:07 AM

Quote:

Originally Posted by nathan

Friends
Can you please advise me how to short sell in ICICI direct.
Sorry if it looks very trivial but kindly take your valuable time and advise me.
As per my understanding you have to use margin trading only for this.
But treat me as a newbie and advise me

Regds
Nathan

They are very strict about shortselling. Even for intrady shortselling (barring few highly liquid stocks) a message window pops up saying you do not have the stock in your demat account. It is my friendly advise to you that never shortsell any stock. Shortselling is suited only for big players and retail investor should never attempt to do this. It is a bit complicated process.

forexf2008 · #4 20th September 2008, 05:53 AM

we need an accounts manager for forex company and prove his abilities for us and the gains of work.

krm · #5 20th September 2008, 08:07 AM

for shortselling you have to go in margin. icici chors will not allow orders in margin when there is a great chance to earn monry for retail customer. they will earn for themselves and after stabilization of market they will allow you to trade in margin. don't daytrade in icici. you will loose money. I am also a icici customer.

Regards
krm

prashant_singh · #6 20th September 2008, 05:00 PM

Quote:

Originally Posted by krm

for shortselling you have to go in margin. icici chors will not allow orders in margin when there is a great chance to earn monry for retail customer. they will earn for themselves and after stabilization of market they will allow you to trade in margin. don't daytrade in icici. you will loose money. I am also a icici customer.

Regards
krm

I am a ICICI customer. I use for magin trading first sell and after than Buy. If u unable to Buy icici gives auto squre off facility brokerge .05% & margin 4 times min. brokerge 15/-. if this is shortsell i do in ICICI &

haribird · #7 21st September 2008, 02:42 PM

Quote:

Originally Posted by ARMHM

They are very strict about shortselling. Even for intrady shortselling (barring few highly liquid stocks) a message window pops up saying you do not have the stock in your demat account. It is my friendly advise to you that never shortsell any stock. Shortselling is suited only for big players and retail investor should never attempt to do this. It is a bit complicated process.

ARMHM,

You comments have no base as shortselling is well suitated for any kind of traders.
Also ICICI Direct have no such hard core restrictions in short selling. All brokers are allowing to short sell in some certain stocks only.

Also the process of shortselling is not at all a complicated thing and there is no meaning for your advise to "never short sell" hahahha.....

ALSO ITS VERY DANGEROUS TO TRADE WITH ICICIDirect BROKER FIRM BACASUE THEIR PLATFORM IS EXTREMELY BAD. THEY WILL SHUT THEIR SITE OFF DURING MARKET HOURS MANY TIMES, THEY WILL NOT EXECUTE YOUR ORDERS FASTLY, THEY WILL NOT ALLOW YOU TO KEEP YOUR TRADING POSITIONS AFTER 2:45PM, AND LOT MANY PROBLEMS. Use some good brokers like sharekhan, religare, etc with their trade terminal softwares rather than web interface.

Hari.

pakatil · #8 21st September 2008, 05:39 PM

I would say Short Sellers are more safer with ICICI. In my experience their Auto Square never failed. Whereas with Religare, AutoSquare failed twice and Open Postion was carried, which ultimately went to Auction. Luckily I got away with least damage in Auction.

Cheers

krm · #9 23rd September 2008, 09:33 AM

Quote:

Originally Posted by prashant_singh

I am a ICICI customer. I use for magin trading first sell and after than Buy. If u unable to Buy icici gives auto squre off facility brokerge .05% & margin 4 times min. brokerge 15/-. if this is shortsell i do in ICICI &

You had mentioned right about brokerage. What I mean to say that icici do not allow margin trading when there is big movement in market <for safety of the customers

>. At that time they will allow only in cash. in the case of auto squareup they will do it from 2-45 to 3-15 pm ANYTIME as per their comfort. Web site will never responce when most needed.
regards
krm

p.s. are you from icici?

haribird · #10 23rd September 2008, 09:38 AM

Quote:

Originally Posted by krm

You had mentioned right about brokerage. What I mean to say that icici do not allow margin trading when there is big movement in market <for safety of the customers

>. At that time they will allow only in cash. in the case of auto squareup they will do it from 2-45 to 3-15 pm ANYTIME as per their comfort. Web site will never responce when most needed.
regards
krm

p.s. are you from icici?

krm, you said it...
Their service is the extreme nasty one amoung others.

Hari.