SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations.

[desai_j]

Hello all,

I have just opened an ONLINE Sharekhan trading acc. and I am getting fimiliar with it. To try out for the first time, I bought just 2 shares of NIIT a few days back (using TradeTiger Software) and sold them on that day itself making 1 Re. profit. Then I checked my reports like "Net Position" and "Obligation" but it showed nothing. Fine. So this called INTRADAY TRADING RIGHT?????????

Then yesterday, I bought 12 shares of Suzlon and DID NOT SELL THEM before day closed. But my "Net Position" is NOT SHOWING these 12 shares. The DP/SR REPORT shows my Suzlon Shares. But the OBLIGATION REPORT says I have to PAY THE MONEY OF 12 SHARES ON OBLIGATION DATE which is 25TH NOV,2009..

WHAT IF I WANT TO KEEP THESE SHARES?? SHOULD I DO NOTHING??

OR WILL SHAREKHAN DEDUCT THT MUCH MONEY FROM MY ACC. ON OBLIGATION DATE???

SOMETIMES I WISH TO DO INTRADAY AND SOMETIMES I WISH TO KEEP THE SHARES... WHAT ARE THE PROCEDURES TO DO THESE TWO THINGS IN SHAREKHAN... AM I DOING THE RIGHT METHOD OR IS THERE SOME MISTAKE????

I am new to this.. Please help.. thank you.

 

[cavinothbabu]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

If you keep Suzlon shares, On obligation date, Automatically sharekhan will deduct amount from your Account.

If you See DPSR Report, Suzlon shares will be shown as DP receivable balance. After Obligation Date, Your shares will be displayed as DP Balance.

Suppose, If the Suzlon goes up before obligation date, You can sell suzlon shares from DP Receivable Balance.

Usually Net Position Report Shows the Trades during that day and is cleared by Sharekhan on end of that day and then transferred to DPSR Report.

But Keep the money on obligation date. or your shares will go for auction.So Money management is very important.

All the Best.......Happy Earnings........

Vinothbabu.

 

[desai_j]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

first of all, thanks for reply..

So if I want to keep shares for longer time (even after the obligation date), I need to do nothing right??? Then that will be added to DP Balance. Can I keep these shares for longer time say 1 week or 10 days.. and then sell off when the prices are high???

Thank u.. please reply

 

[Shravan Reddy]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

first of all, thanks for reply..

So if I want to keep shares for longer time (even after the obligation date), I need to do nothing right??? Then that will be added to DP Balance. Can I keep these shares for longer time say 1 week or 10 days.. and then sell off when the prices are high???

Thank u.. please reply

yes you are right..you can keep them as long as you want and sell them when the price increases..:thumb:

Happy Trading

 

[desai_j]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

thnks shravan and Vinoth for helping a newbie like me..

 

[Shravan Reddy]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

thnks shravan and Vinoth for helping a newbie like me..

always.. our pleasure..:thumb:

 

[cavinothbabu]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

Shravan answered correctly......Bye Desai.......

 

[desai_j]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

^^ Why Bye??? I am trying to make new acquintances here.. things are just getting warmed up

 

[cavinothbabu]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

Okay................ Good Bye is the abbreviated form of " GOD BE WITH YOU"........ Bye means " BE WITH YOU".......

So friend I am always being with you. So i said bye(Be With You).......

You are always welcome........


Vinothbabu
cavinothbabu @ in.com

 

[Zigor]

Re: SHAREKHAN: Obligation T+2 and Intraday confusion. Please help. Need confirmations

If you still have any questions, I think the best person to ask would be your Relationship Manager at SHAREKHAN.

He is paid to answer your queries.

Best of luck !