Hi,
I m new to this trading things, so yesterday I was trying to book MIS BO order with limit price for few of the shares but it got rejected.
So I first went to Zerodha “Bracket & Cover orders” calculation site. (https://zerodha.com/margin-calculator/BracketCover/)
So there I entered the following:
SEGMENT: Equity
SYMBOL: BAJFINANCE:EQ
Now let say I gave the:
PRICE: 887
QTY to Trade: 100
StopLoss: 880
And select : BUY
Than i get to see Margin Requirements box appears as:
Actual Value: RS 88,700
Margin Required: Rs 4258
Leverage: 20.8x
In Kite: I gave the following instructions:
BAJFINANCE (BUY) – MIS – BO
Price 885, TRIGGER PRICE ₹0.00 , STOPLOSS: 880 TARGET: 890
Now Please help me understand, how much money do I need to have in my zerodha account to complete this trade?
As said earlier I m new to this trading platform, so I have RS 6000 present in my account fund. And every time i place some similar order with more or less prices & so on, where the actual value become 80K, 50k or even 12k , but still i get rejected from all those orders.
Below are the few Status Message from order book:
NSE: BAJFINANCE STATUS: REJECTED
STATUS MESSAGE : rms:margin exceeds,required:15720.00, available:6000.00 for entity account-zx1950 across exchange across segment across product
NSE: ASHOKLEY STATUS: REJECTED
STATUS MESSAGE: rms:margin exceeds,required:10260.00, available:6000.00 for entity account-zx1950 across exchange across segment across product
there are many more as such rejected orders.
Please help me in understanding, how much money do I actually need to do MIS- BO.
As per my understanding I took the Margin Required amount from “Bracket & Cover orders” calculation site as the fund required to buy those shares. However the order gets rejected based on actual value.
A little help will be great upon this.
Thanks
Bidyut
Mob: +91-9535760744