Nifty Futures Trading

[lvgandhi]

Hello Asish Sir,

Hope you are keeping good health. Had really missed your words of wisdom & guidance on Friday.



Sir, just for general information, my broker is Religare Securities, and they have this prepaid brokerage plan where the brokerage is flat 0.015% for all derivatives trades & intraday cash (spot) trades.

There is no negotiation involved over here - it's for all clients. Only thing is that you have to shell out an advance of Rs 15000/-, which will be reversed back to your account once you generate brokerage of the same amount. The time limit for generating atleast Rs 15000 as brokerage is 12 months. In short, you have to achieve a total turnover of Rs 10 crores, and the initial advance of Rs 15000 will be reversed back.

Just wanted to confirm with other thread members if I have got this thing right. Here are the actual wordings of the terms & conditions of the offer/plan:

1. Brokerage will be charged at the rates as mentioned in the applicable brokerage table, during the tenure of scheme.

2. During the tenure of scheme brokerage charged shall be reversed to a maximum of cost of subscription only.
3. Brokerage over and above it within the tenure of plan will have to be paid by the client at the same rate as quoted above.

DOES THIS MEAN THAT THE INITIAL Rs 10 CRORE TURNOVER WILL BE EFFECTIVELY BROKERAGE-FREE, SINCE INITIALLY I PAY THE BROKERAGE IN ADVANCE, WHICH IS REVERSED BACK WHEN I REACH THE TARGET WITHIN 12 MONTHS???


[P. S. Also, you get interest @ 3.5% pa on the cash deposit (margin deposit) credited monthly, and there's also a reward point structure based on brokerage, IPO/MF application etc, and these reward points can be redeemed against gift vouchers, etc.]

What has been told by Uasish ans sats are correct. You will get back only your advance payment.

 

[lvgandhi]

The current rate of F & O brokerage in Pune is 0.007 to 0.01% depending on the volume and the relationship with the broker,prompt clearing of debits etc This comes to Rs 700/- per Rs 1,00,00,000/-( Rs 1 Crore turnover)Just opened a new a/c recently so know the current rates.This means that in Rs 700/- I can trade 1200 Nifty futures round trip (buying and selling both including) assuming Nifty future trading around 4000

Can you please tell who is the broker?

 

[VJAY]

Hello Asish Sir,

Hope you are keeping good health. Had really missed your words of wisdom & guidance on Friday.



Sir, just for general information, my broker is Religare Securities, and they have this prepaid brokerage plan where the brokerage is flat 0.015% for all derivatives trades & intraday cash (spot) trades.

There is no negotiation involved over here - it's for all clients. Only thing is that you have to shell out an advance of Rs 15000/-, which will be reversed back to your account once you generate brokerage of the same amount. The time limit for generating atleast Rs 15000 as brokerage is 12 months. In short, you have to achieve a total turnover of Rs 10 crores, and the initial advance of Rs 15000 will be reversed back.

Just wanted to confirm with other thread members if I have got this thing right. Here are the actual wordings of the terms & conditions of the offer/plan:

1. Brokerage will be charged at the rates as mentioned in the applicable brokerage table, during the tenure of scheme.

2. During the tenure of scheme brokerage charged shall be reversed to a maximum of cost of subscription only.
3. Brokerage over and above it within the tenure of plan will have to be paid by the client at the same rate as quoted above.

DOES THIS MEAN THAT THE INITIAL Rs 10 CRORE TURNOVER WILL BE EFFECTIVELY BROKERAGE-FREE, SINCE INITIALLY I PAY THE BROKERAGE IN ADVANCE, WHICH IS REVERSED BACK WHEN I REACH THE TARGET WITHIN 12 MONTHS???


[P. S. Also, you get interest @ 3.5% pa on the cash deposit (margin deposit) credited monthly, and there's also a reward point structure based on brokerage, IPO/MF application etc, and these reward points can be redeemed against gift vouchers, etc.]

If we not acheive the 10 c turnover in 12 months then is rs 15000 will be back or else.I not understand it.or after giving rs15000 there is no brokerage for 12 months?Pl clarify

 

[Sunil]

They will cut brokerage now,whenever it increases Rs 15 K they will return you the earlier 15 K,so you are paying Double now & get back Half.

Sunil,

That is not brokerage-free i suppose.... The thing is that, They initially collecting 15k, and apart from that they will collect brokerage for the first 10 crores which will come to 15K. So at the end of 10 crores, you would have paid 30K as a brokerage. So finally they'll refund the initial 15k that you've paid to them. So the effective brokerage comes around to 15K, which for a beginner like me, is still gr8 one.

Hope you understand. If i'm wrong, let me know.

Thanks,
Sats.

If we not acheive the 10 c turnover in 12 months then is rs 15000 will be back or else.I not understand it.or after giving rs15000 there is no brokerage for 12 months?Pl clarify

Vjay, i hope the previous replies clear your doubt...
A typical ADVANCE BROKERAGE SET-UP:

1. You pay Rs 15K as subscription fees to this brokearge plan
2. You are charged brokerage @ 0.015% for all derivatives & intraday cash trades (0.15% for cash delivery trades)
3. The initial Rs 15K fees will be refunded back only if:
(a) you generate a brokerage of Rs 15K
(b) within a set tme limit of 12 months

You want lower brokerage rates; they want a particular turnover from you, and they are giving you 12 months for such turnover (10 crore)
[for a regular day trader in derivatives, 10 crore will be achieved (5 crore buy + 5 crore sell) within 1 or 2 months]

 

[nagendra_gb]

Sunil,

Wht is ur call and levels for the day ?

 

[uasish]

 

[uasish]

Long from 4118.80 (as per chart above) Stop= 4104.95

 

[uasish]

Brought up Stop to 4119.95

 

[uasish]

Sold 50 % @ 4129.00

 

[uasish]

Stop Hit @ 4119.95