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WHATS
NEW ON ICICIdirect.com:-
Experience
hassle free trading on ICICIdirect.com with our new product
launches: -ST
IN 14 MUTUAL FUNDS ON ICICIdirect.com
ICICIdirect.com
has launched DSP MERRILL LYNCH Mutual Fund on its integrated
Mutual Fund Plaza to enable online investment in Mutual Funds.
This is the 14th Mutual Fund to be launched on ICICIdirect after Prudential
ICICI MF, Franklin Templeton India MF,
Alliance Capital MF, JM MF, Birla Sun Life MF, Sundaram MF,
IL&FS MF, Principal MF, HDFC MF, Standard Chartered MF,
Reliance Capital MF, Kotak Mahindra MF and TATA MF.
Customers
of ICICIdirect will not have to worry about filling up
application forms, drawing cheques /making demand drafts,
depositing warrants as all the financial transactions are
completely automatic at the touch of a button.
The
MF Plaza would enable customers of ICICIdirect to transact
online through user friendly transactions including Purchases,
Redemptions, Switches, Transfer-in and Systematic Investment
Plans (SIP) and Systematic Withdrawal Plan (SWP).
MarginPLUS
– New product on ICICIdirect.com
MarginPLUS
offers an order placement feature through which you can take a
intra-day position in the equity segment and at the same time,
place a cover order for this position specifying the Stop Loss
Trigger Price and the limit price. This cover order will help
you to limit the loss, if any, on the position.
How
does MarginPlus work?
At
the time of taking a position in MarginPlus, you would also be
required to specify a Stop Loss Order, and hence limiting your
loss to that extent. Since the risk is now limited to the
difference between your Buy/Sell rate and the Limit price,
margin will be primarily based on this difference.
Features
-
MarginPlus is available for intra day
trading in more than 60 stocks on ICICIdirect.com
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Margin requirement could be as low as
4%
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Provides exposure up to extent of 25
times* on your limits in the equity segment
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Helps to limit your loss through a Stop
Loss Order
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Open MarginPlus positions can be closed
any time before the End of Settlement timings as specified
by ICICIdirect.com
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Auto square off process to help you
close your open positions at the End of the Day.
How
to place a MarginPlus order?
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Allocate the funds for trading in
Equity segment.
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Select the link “MarginPlus order”
on the trading page.
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Select the Buy/Sell option and the
Stock for trading. (orders can be placed only during
market hours)
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The first Buy/Sell order can only be a
market order.
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At the time of placing this order, also
select a cover Stop loss trigger order.
E.g. You Buy 100 shares of INFTEC at
3400, anticipating that the price would rise. At the same
time, you will be required to place a cover stop loss order.
Say you decide your stop loss price at 3330. You will then
be required to state the limit price at say 5% lower level
i.e. Sell 100 INFTEC at 3230 limit price and 3330 Stop Loss
Trigger Price.
Margin blocked on this transaction will be 3400 - 3230 = Rs
170/-. Hence if your view goes wrong and the price of INFTEC
moves down, your Stop Loss order will be triggered at 3330
and will get executed at the best available price between
3330 and 3230.
If your position is favorable, and INFTEC moves up to 3500,
you can modify the Stop Loss order to a market order and
close your position.
How
are you benefited ?
For more details on MarginPlus refer to
the FAQs on ICICIdirect.com, write to us at helpdesk@icicidirect.com
or call the nearest Call Center.
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