How Much money is required to place MIS-BO order,

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

Answered on Zconnect as well 

Bidyut, SL and Target are supposed to be entered in absolute values on Kite. Check this: http://kite.trade/docs/kite.

So Price 885, SL 5 (since u want SL at 880) and target 5 (since exit 990). If you had take it like this way, the margin will be as shown on the calculator.

1 Like