"Expiry Underway" prevented placing order at ICICIDirect

#1
I tried placing an order in NIFTY FUTURE Jan at around 3.28 PM today through ICICIDirect. Though the market was open, my order was not accepted and the message displayed was, "Expiry underway. Please try again later".

Earlier, I had a similar experience with ICICIDirect's FUTUREPLUS. My position was squared off by ICICI at 3.15 PM. I did not know - and could not find on its website FAQ - the time limit for holding intraday trade, which the FUTUREPLUS was.

Can someone tell me the time limit for initiating a new trade/squaring off an existing position during market hours? Was it only at ICICI or all brokers have the same restriction?

Thanks

subroto
 

akhill

Well-Known Member
#2
An intraday position will be closed at the latest by 3:20 with some brokers and many do it by 3:10 PM itself. I have never used ICICIDirect, so cannot answer your properly. From your question, I assume that you are trying to initiate an intraday order at 3:28 PM, which will not be approved by the broker. (my wild guess).
 
#3
This is the biggest disadvantage in many broker firms.
The main reason is.. Nifty and stocks make a big move after 2.30 because of short covering
Last 15minutes also important.
Do you want to miss the opportunity???
Question:
" Those kind of movements happens 1 time in 1 week and what is the use?"
Answer:
In stock markets we have to wait for opportunity.
We wont know when it will occur
9 to 11 or 12 to 2 or from 2.30 to 3.30
Everyday many stocks closes in day high/low exactly at 3.30
A man must make his opportunity, as often as find it.
The successful man is one who had the chance and took it.
 
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#4
An intraday position will be closed at the latest by 3:20 with some brokers and many do it by 3:10 PM itself. I have never used ICICIDirect, so cannot answer your properly. From your question, I assume that you are trying to initiate an intraday order at 3:28 PM, which will not be approved by the broker. (my wild guess).
I have traded with ICICI earlier, even when trading an overnight product, the order sometimes got rejected around 3.27pm..
 
#5
An intraday position will be closed at the latest by 3:20 with some brokers and many do it by 3:10 PM itself. I have never used ICICIDirect, so cannot answer your properly. From your question, I assume that you are trying to initiate an intraday order at 3:28 PM, which will not be approved by the broker. (my wild guess).
Thanks Akhill for the info on intraday position. However, the order I tried to place at 3.28 PM was not intraday. I was trying to take a fresh overnight position and it was not accepted. Any idea if that is the case with other online brokers as well? If that is the case, then what is the cut-off time after which you can't place an overnight order?
 

akhill

Well-Known Member
#6
Thanks Akhill for the info on intraday position. However, the order I tried to place at 3.28 PM was not intraday. I was trying to take a fresh overnight position and it was not accepted. Any idea if that is the case with other online brokers as well? If that is the case, then what is the cut-off time after which you can't place an overnight order?
With online broker, NO (dealt only with zerodha and it was fine). now with regular broker, because quit zerodha due to some discrepencies, but still a NO. (even with regular broker).
 
#7
With online broker, NO (dealt only with zerodha and it was fine). now with regular broker, because quit zerodha due to some discrepencies, but still a NO. (even with regular broker).
So, it is possible to place an order creating a new, overnight position at any time during market hours, even at the fag end, with other online brokers, like zerodha?
 
#10
Thanks traderite. Can you suggest a few of the online brokers who allow that? Can you share your own experience with your broker? Seems it's time for me to move on to a better online broker.
See bro, some very well known Discount Brokers as of now are having their threads in Traderji & you are at the best place to read about them here.

To name them :

Zerodha , RKSV , Trade Smart Online , Achiievers Online.

You may go through their threads and use their Brokerage calculators at their respective websites to come on conclusions.

I myself trading with Trade Smart Online as of now & I am very satisfied with their service.

One of my friend is trading with RKSV and he is also very satisfied with their service .

So basically its a matter of choice when you finally decide.

Happy Trading.
 
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