Sold my equities, debt funds etc… Still giving me a cash shortfall red rule error when i’m trying to buy some other equity share in CNC / delivery.
I believe atleast 80% of the sale proceeds should be available same day ?
is it some recent rule change at the broker or exchange level ? Because i think earlier , i used to get funds available same day for buying some other stock.
It has made swing trading impossible, and causing interest / opportunity losses, capital under-utilization .
If these were already credited holdings, you should generally get 100% of the sale proceeds to buy other stocks immediately. If it was a BTST sale, then that could explain the cash shortfall, as the funds wont be available until the next trading day. Since we can only speculate, it’s best to check with Shoonya support for the exact reason.
The day you sell holdings the funds are unsettled, but it can be used for other trades & withdrawal is possible on the next day. IDK what rule they are following escalate maybe.
escalation to scores might cause them to change their policies. Depending on whether the settlement norms of nse are mere guidelines or stringent rules.
But is it worth keeping account with such a broker where we have to fight for basic features & functionality. These comforts come default in zerodha where everything is well documented and forums exist. But for scalping purposes, i cannot afford the higher brokerage costs of zerodha, so will have to find something else.
i want to know what is the fund availability timeline in other brokers after selling equity shares.