There are 750 stocks in the above list which is half of the NSE stocks universe. So practically, 50% of NSE stock are barred from Intraday trading on Zerodha. Can you please explain the rationale behind this. (And as a matter of fact, these do not even belong to T2T (Trade-to-Trade) segment and other brokers are allowing intraday on these stocks)
Hi @sujith , I will send the mail to RMS as well and have initiated a separate topic on this as well since I believe this is critical for many other fellow board members and they should be aware of this before hand (lest this will result in losses during realtime trading).
I wanted your suggestion on the actual issue I faced: 1) I initiated a long position (CNC) at Rs. 100 on a stock xyz and was able to purchase that stock at that price. 2) I initiated CNC position because I want to hold xyz over next day but I want to cover my losses if it fall below Rs. 95 today. Hence I placed a stop_loss_market order (MIS) at trigger price of Rs. 95.
Now, that you mentioned MIS is not possible on these stocks, is there any other way around this ?
@sujith Just to double confirm - After taking a long CNC position today I can immediately place a stop-loss (market) sell order (CNC) today. And if the price hits the trigger price, my long position (CNC) will get squared off. Is that the understanding ??
@sujith I agree on the long CNC position. My doubt is whether I can place a stop_loss (CNC) as well immediately after taking the long CNC position on the stocks mentioned by you in the list?
Example below: 1) I purchase "XYZ" at Rs. 100 (CNC product) 2) Immediately after purchasing XYZ, I place a stop_loss_market with trigger price of Rs. 95 (CNC product) 3) If the price remains above Rs. 100 today, stop_loss_market never gets triggered and gets cancelled at day end. 4) If the price keeps on going below Rs. 100 and hits Rs. 95, stop_loss_market gets activated and my long position gets squared off (limiting my losses to Rs. 5)
You can check out list of scrips on which we don't allow MIS orders.
I am assuming that you are referring to this list : https://docs.google.com/spreadsheets/d/1-T6RlEE8Gn2fioep_Cmdx9ECRX_WpQbfJJfsU8PdOV8/edit#gid=0
There are 750 stocks in the above list which is half of the NSE stocks universe. So practically, 50% of NSE stock are barred from Intraday trading on Zerodha. Can you please explain the rationale behind this.
(And as a matter of fact, these do not even belong to T2T (Trade-to-Trade) segment and other brokers are allowing intraday on these stocks)
It is decided by our RMS. Please write to [email protected]. The concerned team will get back to you.
I will send the mail to RMS as well and have initiated a separate topic on this as well since I believe this is critical for many other fellow board members and they should be aware of this before hand (lest this will result in losses during realtime trading).
I wanted your suggestion on the actual issue I faced:
1) I initiated a long position (CNC) at Rs. 100 on a stock xyz and was able to purchase that stock at that price.
2) I initiated CNC position because I want to hold xyz over next day but I want to cover my losses if it fall below Rs. 95 today. Hence I placed a stop_loss_market order (MIS) at trigger price of Rs. 95.
Now, that you mentioned MIS is not possible on these stocks, is there any other way around this ?
You can place sell order as CNC.
You are just not allowed to short that is it. You can take still take a long position.
Just to double confirm - After taking a long CNC position today I can immediately place a stop-loss (market) sell order (CNC) today. And if the price hits the trigger price, my long position (CNC) will get squared off. Is that the understanding ??
Yes, you can take a long position with the product as CNC.
My doubt is whether I can place a stop_loss (CNC) as well immediately after taking the long CNC position on the stocks mentioned by you in the list?
Example below:
1) I purchase "XYZ" at Rs. 100 (CNC product)
2) Immediately after purchasing XYZ, I place a stop_loss_market with trigger price of Rs. 95 (CNC product)
3) If the price remains above Rs. 100 today, stop_loss_market never gets triggered and gets cancelled at day end.
4) If the price keeps on going below Rs. 100 and hits Rs. 95, stop_loss_market gets activated and my long position gets squared off (limiting my losses to Rs. 5)
Is the above possible ?
You can place a sell stop-loss market order with product CNC if you have a long position.