Zerodha - Number One Discount Broker in India

[vagar11]

Suppose If I buy a nifty 7500 CE at 112.40 premium.

Then stamp duty is applicable on the strike price,premium or the underlying price?

 

[vsaran]

NO BPR, RMS doesn't take care.

Say if I have 50K as margin and if I am already sold 1 lot NF, the available balance it will show is just 5K. Now I have to place another order of SELL 2 lots of NF , so thats not accepted quoting margin issues.

Zerodha, waiting for your answer....

you sold 1 lot with 50k margin and have a balance of 5k.Now you want to reverse your position.what will you do? you buy one lot to cover your short(for this no margin is needed).Here you margin becomes 50k and you can buy one more lot.By putting 1+1 buy order,you can straight away buy 2 lots.Hope you understand.

 

[Vipul_84]

Thanks Vsaran, this is what I too thought, but doesn't work that way. For reversal Zerodha is asking fresh 90k. That's what surprised to me. Let them explain.

you sold 1 lot with 50k margin and have a balance of 5k.Now you want to reverse your position.what will you do? you buy one lot to cover your short(for this no margin is needed).Here you margin becomes 50k and you can buy one more lot.By putting 1+1 buy order,you can straight away buy 2 lots.Hope you understand.

 

[comm4300]

Thanks Vsaran, this is what I too thought, but doesn't work that way. For reversal Zerodha is asking fresh 90k. That's what surprised to me. Let them explain.

Have you tried MIS order type for the reversal order?

If executed, you can convert your order to NRML near EOD.

 

[copypasteaee]

Mtm + margin is required. Order type should be same

 

[Vipul_84]

Not tried this option. Looks promising. Thanks Comm4300

Have you tried MIS order type for the reversal order?

If executed, you can convert your order to NRML near EOD.

 

[praveen98]

Hi Zerodha & seniors, need one important clarificaion.
I am SAR type trader (always in market kind of strategy). So when I buy one lot of NIFTY futures with NRML carry forward I need around Rs. 45K as margin. Now when I have to place sell order, in that case I have to place sell order for 2 lots as I want to get out of my existing long position and also I have to initiate new short position. In this case, I am required to have margin of 90K. So essentially I have to keep 90K as margin for trading 1 lot of NIFTY Fut. Can you tell some better solution to this problem? Will using cover order work out in this case? Please answer.

Hi Vipul 84,
I think what bpr is saying is right....please go through the following two blogs..You may find answers to your problems....
http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/zt-position-conversion
http://zerodha.com/z-connect/tradezerodha/margin-requirements/zerodha-margin-policies
Best Regards:thumb:

 

[Zerodha]

Hi Vipul 84,
I think what bpr is saying is right....please go through the following two blogs..You may find answers to your problems....
http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/zt-position-conversion
http://zerodha.com/z-connect/tradezerodha/margin-requirements/zerodha-margin-policies
Best Regards:thumb:

Yes, you can place order as MIS as the margin required is only 40%. Once both the positions are taken, u can convert the order into NRML for holding to next day.

 

[Zerodha]

We haven't yet sent out any emails to clients, but yes 60 day challenge in the current format will end on 31st March. We will continue to run it as a challenge, but without any brokerage refunds, even if we refund, it will be limited to an X amount. We have had too many people trying to game the system, and putting unnecessary overhead on our operations.

 

[milkyblack]

We haven't yet sent out any emails to clients, but yes 60 day challenge in the current format will end on 31st March. We will continue to run it as a challenge, but without any brokerage refunds, even if we refund, it will be limited to an X amount. We have had too many people trying to game the system, and putting unnecessary overhead on our operations.

The brokerage part is very less compared to other charges like STT , TOT, stamp etc, which anyway does not get refunded, so no one can "game" the system there I guess.

It's a decision of Zerodha to continue or not to continue with refund, cap on refund or not much useful certificate, or stop the challenge completely.

But it is completely illogical to say that the refund or cap on refund or format being changed because some clients of Zerodha are trying to outsmart the system.