I was checking my logs for rejected orders today and realized that particular order of mine was rejected because of an error in calculation from Zerodha's side.
I had placed a limit order for 3 shares of INDIGO at Rs. 1,890.95. The margin required for the same should have been 1,890.95 * 3 = 5672.85 but as you can see the error Zerodha gave was that the required margin is 6042.65. You may notice that the available margin was 5743.3 and ideally the order should not have been rejected
Please have a look at the snapshot attached.
I would like to know the actual issue if I have misunderstood in interpreting margin calculation or else there is a direct error in margin calculation from Zerodha's side.
Thank you for the article but it does not solve my issue
I see that there is an error in the required margin calculation itself. If I do 1890.95 * 3 = 5672.85 and not 6042.65. Also, the message clearly suggests that the available margin is 5743.3 which is an amount greater than 5672.85.
So unless there is any tolerance added to the calculation, I fail to see how Zerodha claims it to be 6042.65
Thank you for the article but it does not solve my issue
I see that there is an error in the required margin calculation itself. If I do 1890.95 * 3 = 5672.85 and not 6042.65. Also, the message clearly suggests that the available margin is 5743.3 which is an amount greater than 5672.85.
So unless there is any tolerance added to the calculation, I fail to see how Zerodha claims it to be 6042.65
I checked my logs and there were no open orders. Can you please confirm the root of the error again?
Also, can you please dumb down the explanation in the previous comment with an example?
Thank you