Sharekhan has provided Trade Tiger as a front end to monitor and trade in stocks.
It is a very good and useful tool; but .....
Yes, there are certain traps wherein the user can fall prey and loose money when Sharekhan auctions your stocks saying that you have short-sold the stock.
Use this thread to publish the TRAPS that you have noticed so that the other forum users will not be sitting duck targets.
======================
I have come across the following :
1. You buy ( say ) 100 instruments of Stock Options today
2. Tomorrow you buy 50 instruments of the same.
So you have 150 with you.
3. Now tomorrow you sell 150 instruments. Balance left with you is nil.
4. Try to find the shares available with you after that transaction using FNO reports/Turnover and click the + mark on left to open sub-view.
You will find the following :
Instruments BOUGHT = 50
Instruments SOLD = -150
Instruments in BALANCE withyou = 100
5. The system will even allow you to SELL those 100 'virtual' instruments.
When you are in tension you will sell those 100 instruments and .. YOU ARE TRAPPED.
Sharekhan will say that you have short-sold 100 instruments and they will auction your holdings. If by chance the stock appreciates by the auction time then you are in soup.
( My wife sold such virtual 50 stock options at 160 Rs each at 3:29 PM last Friday [ Where is time to settle the account? ] .. next day ( Monday ) the circuit breakers occurred and same stock rose to 760 Rs. Sharekhan has sold ALL her stocks worth 90000 and are demanding another 10000 Rs. No one answers the querry saying that 'the case is not handled at my level'. )
I know that they will sue my wife for 10000 extra amount and we will have to fight out a long legal battle ...
BUT.. Who is responsible for this wrong signal given by the Sharekhan Software.
That is why I feel that they have introduced several such TRAPS in thaeir softawre and if you have fallen prey to them please PLEASE post such instances here.
===========
S^3
It is a very good and useful tool; but .....
Yes, there are certain traps wherein the user can fall prey and loose money when Sharekhan auctions your stocks saying that you have short-sold the stock.
Use this thread to publish the TRAPS that you have noticed so that the other forum users will not be sitting duck targets.
======================
I have come across the following :
1. You buy ( say ) 100 instruments of Stock Options today
2. Tomorrow you buy 50 instruments of the same.
So you have 150 with you.
3. Now tomorrow you sell 150 instruments. Balance left with you is nil.
4. Try to find the shares available with you after that transaction using FNO reports/Turnover and click the + mark on left to open sub-view.
You will find the following :
Instruments BOUGHT = 50
Instruments SOLD = -150
Instruments in BALANCE withyou = 100
5. The system will even allow you to SELL those 100 'virtual' instruments.
When you are in tension you will sell those 100 instruments and .. YOU ARE TRAPPED.
Sharekhan will say that you have short-sold 100 instruments and they will auction your holdings. If by chance the stock appreciates by the auction time then you are in soup.
( My wife sold such virtual 50 stock options at 160 Rs each at 3:29 PM last Friday [ Where is time to settle the account? ] .. next day ( Monday ) the circuit breakers occurred and same stock rose to 760 Rs. Sharekhan has sold ALL her stocks worth 90000 and are demanding another 10000 Rs. No one answers the querry saying that 'the case is not handled at my level'. )
I know that they will sue my wife for 10000 extra amount and we will have to fight out a long legal battle ...
BUT.. Who is responsible for this wrong signal given by the Sharekhan Software.
That is why I feel that they have introduced several such TRAPS in thaeir softawre and if you have fallen prey to them please PLEASE post such instances here.
===========
S^3