Explain Leverage Pay off (during Loss) for MIS (Regualr Order) & Cover Order (MIS)

I was here: http://zerodha.com/varsity/chapter/leverage-payoff/

I understood Leverage, but i need to know how you calculate during a loss, this will help me how much capital i will loose if i hit a stop loss or when to exit calculating my risks.

Scenario #1: Intraday normal MIS Order for Equity / Cash

I have 15k capital, I buy Axis bank @ 450, since i use MIS (9x), i can buy 310 shares, now market comes down to 420 and if i exit, i am sure i make a loss, but how is this calculated ? and how much is left in my capital ?

Scenario #2: Cover order (MIS) for Equity / Cash

I have 15k capital, I buy Axis bank @ 450, using cover order, i can extend leverage and i can buy 520 shares instead of 310, now market comes down to 426 and i hit mandatory stop loss and exit automatically, what is the loss i have incurred and what is left of my capital, please explain ?

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Loss or profits are not calculated based on product type but on quantity and price involved.

Its just simple mathematics.

Buy Value (buy pricequantity) 450520=234000

Sell value(sell price quantity) 426520=221520

The difference between buy and sell is 12480 so that will be your loss.

If you start with 15000 and ended up making 12480 as loss, you are left with 15000 - 12480 = 2520 Rs