This happens when stock moves sharply and more volatile, if stock is put in ASM list than it is shifted to T2T and you will be asked to either cut your position or covert to delivery.
2 Likes
“So, at the risk of repetition and preaching, let me
urge you to avoid averaging down.
I know but one sure tip from a broker. It is your
margin call. When it reaches you, close your account.
You are on the wrong side of the market.
Why send good money after bad? Keep that good
money for another day. Risk it on something more
attractive than an obviously losing deal.”
So says Livermore in How to Trade in Stocks.
I am asking because I am holding shares of 500 Shilpa, bought at 491.85. Their current price is 606.20. Suddenly out of the blue, ICICIDirect asked me to pay ₹19,232.75 (They sent the email at 9.30 PM. By the time I saw the mail, it was 10.30, as they don’t accept additional margin after 10.15, I am stuck with the demand till Monday).
To me the situation seems rather absurd. Could it be because I have been holding them for two months.
Anyway, there is Livermore’s advice too. As I am learning the margin game, I hope any comments from you will benefit me, as well as others too who may consider the margin buy of shares.
If stock become volatile than margin may rise upto 99% as well.
1 Like
This apparently happened because I had unpledged some shares. Most of my MTF is against shares pledged.
Another learning.
Hi, can one download the profit statement separately for the investments on MTF in ICICDirect?
It does show the current positions under ‘Open Positions’. We can, I think download investment details through 6 months, but can we seggregrate profit over a period on margin, say, six months?
No,
You will have to keep a tab of it separately in your excel.
I am having a headache to file my returns. Unable to get PnL of MTF trades in PnL statement, they are visible in trade summary but somehow absent in PnL statement.
If anyone has figured it out then please share it..
1 Like
I have not checked that and that should be another problem. As it is I am worried what IT Deptt is going to do with my return. The AIS was showing the acquisition cost as zero in many cases, inflating the profit.
I had to give a line by line item from my trade summary of PnL. Please mail it to ICICI direct team and highlight this issue. For things like rights/demerger/IPO, you have to manually add the transaction only then will it reflect correctly in the PnL report.
In fact, I have often wondered why we have to do that. Even when they redesign the site, this issue remains. In fact, even after unpledging a stock, you have to again allocate it.