What is nifty etf, is it like equity stocks and margin required for it?

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If you invest in Nifty ETFs like NIFTYBEES it will be similar to buy a stock say RELIANCE using CNC code and holding in your demat account.

The entire money is debited from you and no leverage is given.

I am not sure whether you can short NIFTYBEES in intraday. Never thought about it. Most probably you can’t I think. Only BUY-SELL should work, not SELL-BUY. So no margin blockage I suppose. Anyhow, seniors need to comment on this. So hold on.

Check this post on ETF's. Yes it is like buying stocks and it mirrors the Nifty movement. If Nifty goes up 1%, your ETF also goes up 1%. 

You can do intraday trading, or buy for delivery and keep it for as long as you want, like the way you trade stocks. Yes you need to have demat account to buy ETF's. 

@Nithin
It is possible to short NiftyBees in the morning and buy back later in the evening (like shorting equity stocks without holding them in demat account) using MIS code?