one question related to intraday

#1
Hi,

I brought 10 shares of icici bank today at 1033. It cost around 10330. but at the end of the day it goes down to 1023.
so i don;t sold that shares. now my question is if i do not have that money to pay to my online broker that is sharekhan and suppose 2maro that share goes to 1040 and i sold it in the market. then i got 7*10 that is 70 profit right?

what will happen to that 70/- ?? will my broker will credit to my dp account or ???

:

If this is currect i am getting 70 profit without giving any money to my broker....
Am i currect?????


Please guide me.


Thanks
Sachin
 
#2
yes sachin
you will get 70 /- profit but sharekhan will deduct some money for transaction.
I am not sure but I think that the period for trading is one week for sharekhan.
 

SavantGarde

Well-Known Member
#4
You Stand To Earn Only If Your Nett Credit For Selling Happens To Be More Than Your Today's Contract For Buying.

Incase You Earn Something From The Trade, It Is Cash Market Ledger That Reflects Your Credit Not The DP.

DP Only Indicates Your Holdings, If Any.


Buying Today & Selling On Another Day Is Not Intraday.

SavantGarde

Hi,

I brought 10 shares of icici bank today at 1033. It cost around 10330. but at the end of the day it goes down to 1023.
so i don;t sold that shares. now my question is if i do not have that money to pay to my online broker that is sharekhan and suppose 2maro that share goes to 1040 and i sold it in the market. then i got 7*10 that is 70 profit right?

what will happen to that 70/- ?? will my broker will credit to my dp account or ???

:

If this is currect i am getting 70 profit without giving any money to my broker....
Am i currect?????


Please guide me.


Thanks
Sachin
 
#5
By the term "interday" one will understand BUYING an asset in a day and SELLING that asset in the same day. It may happen the SELL may be the first option choosen by the trader depending on the market situation. Next he may select to BUY the same to settle the transaction once for all.

My querry is that in ICICIdirect, if one decides to go intraday on OPTION trading, He may go for a SELL of an asset which he does not own earlier. Once that the order is executed, he may get an opportunity to BUY the same in the same day to settle the transaction. Is this practice will be allowed by ICICIdirect ?:mad:
 

skarpio

Active Member
#6
By the term "interday" one will understand BUYING an asset in a day and SELLING that asset in the same day. It may happen the SELL may be the first option choosen by the trader depending on the market situation. Next he may select to BUY the same to settle the transaction once for all.

My querry is that in ICICIdirect, if one decides to go intraday on OPTION trading, He may go for a SELL of an asset which he does not own earlier. Once that the order is executed, he may get an opportunity to BUY the same in the same day to settle the transaction. Is this practice will be allowed by ICICIdirect ?:mad:
This is called Short Selling (selling an asset you don't own) and buying back is called Short Cover. The net difference in price minus the brokerage, taxes etc is your profit/loss. AFAIK ID allows short-selling. However, keep in mind you need to square-off (ie. go for short cover) your positions sometime before the market closes (confirm with your broker).

HTH
 
#7
i guess , broker won't allow u to transact unless u have some funds with them. that's what my brokers ( 5paisa as well as Rmoney) does. e.g. say i have 10k with them....both allows me to transact till 50k...not more than that.
 

SavantGarde

Well-Known Member
#8
Skarpio Is Right In His Explanation But Covering The Short On The Same Day Applies Only To Shares or Cash Market.

You Have Asked For Options Trading

In Options You Can Short A CALL or A PUT Till The Expiry Of The Series

Only Difference Being That Your Brokerage Will Levy Futures Margin Till You Square Off The Position.


SavantGarde


By the term "interday" one will understand BUYING an asset in a day and SELLING that asset in the same day. It may happen the SELL may be the first option choosen by the trader depending on the market situation. Next he may select to BUY the same to settle the transaction once for all.

My querry is that in ICICIdirect, if one decides to go intraday on OPTION trading, He may go for a SELL of an asset which he does not own earlier. Once that the order is executed, he may get an opportunity to BUY the same in the same day to settle the transaction. Is this practice will be allowed by ICICIdirect ?:mad:
 
#10
and what will happen if i bye 10000/- shares and do not pay for that shares with in 7 days/

I think my broker will sell that shares in the open market and give me profit/loss ????

It is so????
 

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