Someone here actually posted a query regarding an issue they had with exiting their trade in a non intraday stock, like a regular scrip basically which you can only buy and not short. So of course, there have been new rules implented regarding upfront margins and peak margin reporting. So I was just confused about how it would affect exiting from regular non intraday scrips. Let me elaborate further.
I don’t know what the margin requirement for regular stocks are but let’s just say it is 100%. So, so certain situations arise then -
Let’s just say I bought such a stock and then I think that I don’t want to take delivery for this stock and I want to sell it on the same day. So, am I allowed to sell it on the same day or do I need additional 100% margin for that? And I can sell the stock just as it is, can I use the proceeds from selling to take another position?
Also what about the same implications for selling on T+1 day? Do I need margin to sell on that day or I can sell as it is. Also, can I use the proceeds then or not?