Hi guys!
I bought shares of a company using angel one by using margin and the total traded value was Rs 300,000 on FRIDAY and on Monday when I tried selling the shares it showed insufficient funds Later I added the shortfall and sold the shares and it’s still showing under open positions.
I want to ask why was I not able to sell the shares smoothly without any additional fund and why is the position still open…If there’s any article which may help please share.
THANKS!
1 Like
Is it CNC ? Don’t you require full cash if you are taking delivery. Do brokers give margin for overnight equity position ?
Just check your trade log whether you did intraday trade on friday ( which probably auto squared off on friday evening)
I did carry forward using margin facility in Angel Broking
Angel broking provides delivery margin.
do they charge some interest for the margin provided ?
When you sell your holding, on that day it will still show as open position (quantity negative). It is normal, In case you want to buy it back at a lower price (hence will be a intraday). This open position will not be visible on the next day (probably). hope this is useful for you.
Yeah thanks Aniket!
I wanted to know that why I wasn’t able to sell shares purchased on Friday (bought on Margin) today and it showed remark as insufficient funds…Due to which I had to add the required margin
Yea they do charge interest as there is no fixed period of holding like you can use the delivery margin for holding stocks for years together.
They charge something like 18 % p.a (I might be wrong, make sure to check with angel broking website).
Currently angel is the only sound broker who provides delivery margin… I think.
While selling use product type as delivery instead of margin. Which one did you use?
1 Like
@Praharshaa …Just for information,Out of traded Value of 3 L, how much Angel provide as DELIVERY MARGIN?
Do you have to pay MTM losses daily,if any?
Its usually 1:5 same as intraday meaning 80% is what you borrow from broker. But then there is adhoc margin also that you need to maintain so that broker is able to make some reserves for daily moves it is based on var and elm.
Yes MTM losses you need to maintain