How to convert your position?
After placing a trade, you have the option to convert your
position between Delivery and Intraday types. Here's how you can manage these
conversions:
1. Delivery to Intraday
Conversion
- Objective: Change a position held for
delivery (beyond the trading day) to an intraday position (to be squared
off within the same day).
- Steps:
- Log In: Access your trading account on
the platform.
- Navigate to Positions: Go to the "Positions"
tab.
- Select Position: Choose the delivery position
you wish to convert.
- Convert: Select the option to convert to
an intraday position.
- Confirm: Verify and confirm the
conversion.
- Note: If you are a non-POA (Power of
Attorney) customer, ensure that the sell authorization process is
completed to avoid any issues with short selling.
2. Intraday to Delivery
Conversion
- Objective: Convert an intraday position (to
be squared off within the same day) to a delivery position (held beyond
the trading day).
- Steps:
- Log In: Access your trading account on
the platform.
- Navigate to Positions: Go to the "Positions"
tab.
- Select Position: Choose the intraday position
you wish to convert.
- Convert: Select the option to convert to
a delivery position.
- Confirm: Verify and confirm the
conversion.
- Note: Ensure that you have sufficient
margin availability for the scrip you wish to convert.
General Considerations
- Margin
Requirements: Converting positions may require different margin levels depending
on the type of trade.
- Authorisation: Non-POA customers should
complete the sell authorisation process to avoid issues.
- Platform Access: The specific steps and options
may vary slightly depending on the trading platform used.
By following these steps, you can effectively manage and
adjust your trading positions based on your strategy and market conditions.
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