Intraday Call 28/07

[madhura]

Hi dinkerj,
today 89 high is already achieved, i dont think,,it will now again touch there today..
may u can try it tomorrow!
madhura

 

[jaideep]

HI,
Even if it doesnt allow margin trading its OK u can trade in cash if u find it viable, and square-off by the settlement cycle. There is no brokerage applicable on cash intraday trading in ICICI (only STT and ST taxes are applicable.)

regards
Raju

Wrong Raju. ICICIDirect only allows margin & margin-plus intra-day trading. No cash intra-day trading is permitted. Cash trading is done only on delivery basis.They have Cash BTST trading for selelct scrips i.e.buy-today-sell-tomorrow. There is no brokerage-free trading of any sort in ICICIDirect as you have mentioned.

 

[feels_good_today]

Wrong Raju. ICICIDirect only allows margin & margin-plus intra-day trading. No cash intra-day trading is permitted. Cash trading is done only on delivery basis.They have Cash BTST trading for selelct scrips i.e.buy-today-sell-tomorrow. There is no brokerage-free trading of any sort in ICICIDirect as you have mentioned.

hi Jaideep,

I havent done cash intraday trades so I m not sure. but this mail I got from ICICI quite some time back just take a look.

Cash Trading

What is Cash Trading?

This is a delivery based trading system, which is generally done with the intention of taking delivery of shares or monies. In case you have bought some shares in cash and the price has gone in your favour, you may wish to sell those shares that you had bought and make a profit. If you indeed place a second order to sell those shares within the same settlement cycle then this second order is known as a square-off transaction.

Square-off transactions in Cash done (within the same settlement cycle) are not charged any brokerage. In case you sell shares in cash, your trading limits increase automatically after the order is executed at the exchange. We do hope that you have funded your bank and demat accounts respectively to start trading. In case you haven't so far, please do so immediately.

We shall help you put in a BUY and SELL order on both BSE and NSE. To start with, we shall put an order in the Cash Segment.
How to place a Cash Buy order:
1)On the trading page of our site, click on the Buy link to buy shares in cash.2)On the Buy screen, enter the details of your BUY transaction.
3)Select the exchange as NSE or BSE. (Cash trading is possible in both these exchanges).
4)Select the product you wish to trade in i.e. CASH or MARGIN. In this case please select CASH as your product.
5)In the stock field, enter the stock code of the shares that you wish to buy and take delivery.
6)In case you don't know the stock code enter the first three letters of the company name and click on "find stock code".
7)Enter the quantity of shares you want to purchase.
8)Select the order type Market or Limit.
9)After entering all the details of your transaction click on "Buy now" to purchase shares.
10)The 'order verification screen' will appear with all the transaction details. 11)Please verify the details. If all the details are correct, click on "proceed". In case you need to make any change, click on the "back" button.
12)The 'order acknowledgement' screen appears.
13)You can check the status in the order book. Orders in Cash are marked in white background.


LIMITS:
On execution of your SELL order, the LIMITS will be released to your trading account immediately. These limits can be used for placing more orders in the same exchange.

CASH SQUARE-OFF:

You can also square-off your Cash trades on the same day (same settlement).

Eg:- BUY 100 shares of ACC (Fresh Order) and SELL 100 shares of ACC (Square-off order). No brokerage will be charged to your Square-off trades. (STT and ST will be charged as applicable)

OR

SELL 100 shares of ICIBAN (Fresh Order) and BUY 100 shares of ICIBAN (Square-off order). No brokerage will be charged to your Square-off trades. (STT and ST will be charged as applicable)

How to place a Cash Sell order:

On the trading page of our site click on the ‘Sell’ link to sell shares in cash. The rest of the procedure for selling a share is similar to above-mentioned procedure for buying a share

This mail I got from "[email protected]" and thats why I had written that cash intraday trades are allowed. Plz, verify it if u can. Incase I m wrong I really apologise. (I can even forward u that mail if u want)

Thanks
Raju

 

[jaideep]

Have been only intra-day margin trading for the past 3 years to get the extra leverage that they offer. Looks like I have completely missed the intra-day cash trading facility that they have come up with of late. Was'nt there earlier, at least I was made to believe so but I maybe wrong again.

My apologies Raju. You are dead right I think. Will try cash intra-day trading tomorrow to confirm whether it is for real. ICICI not charging brokerage for same day settlement in the cash segment is like Satan doling out religious pictures as free gifts.

Cheers & happy trading.

 

[feels_good_today]

Have been only intra-day margin trading for the past 3 years to get the extra leverage that they offer. Looks like I have completely missed the intra-day cash trading facility that they have come up with of late. Was'nt there earlier, at least I was made to believe so but I maybe wrong again.

My apologies Raju. You are dead right I think. Will try cash intra-day trading tomorrow to confirm whether it is for real. ICICI not charging brokerage for same day settlement in the cash segment is like Satan doling out religious pictures as free gifts.

Cheers & happy trading.

hi Jaideep,

your apologies!! you r embarrasing me. All you seniors here r doing a gr8 job and moreover what I said is not even verified. I will mail to customer care for further information n would see what they say.

thanks
raju

 

[dinkerj]

Jaideep,
your statement "ICICI not charging brokerage for same day settlement in the cash segment is like Satan doling out religious pictures as free gifts." is 100% right.

 

[feels_good_today]

Hi jaideep,

I have talked to the customer care and found that it was my mistake. As written in the mail that the "Square-off order" will not be charged the brokerage, but the first order is "Fresh Order" which will invite the normal brokerage of 0.75% .

I was "lost in translation" of words I guess though now its cleared. thanks

regards
Raju

 

[jaideep]

Hi jaideep,

I have talked to the customer care and found that it was my mistake. As written in the mail that the "Square-off order" will not be charged the brokerage, but the first order is "Fresh Order" which will invite the normal brokerage of 0.75% .

I was "lost in translation" of words I guess though now its cleared. thanks

regards
Raju

All's well that ends well Raju.

Cheers.

 

[dinkerj]

All's well that ends well Raju.

Cheers.

Thats fine. so buy+sell will attract 0.75 % brokerage na! even margin trading attracts 0.32 % brokerage.

 

[snowy]

Thats fine. so buy+sell will attract 0.75 % brokerage na! even margin trading attracts 0.32 % brokerage.

If I understand this right then ICICI is way too costly for intra day trading since the brokerage for intraday trades in many other brokerage houses are around 0.04 - 0.05 % for each leg of the trade. Kindly clarify.

Regards
Snowy.