How to Do Square off by Choice India?

Last Updated: Jul 30, 2024 Value Broking 2 Mins 1.9K

Day trading products are those that allow you to use margins as high as five times and are known as MIS (Margin Intraday Square-off). Your margins consist of ledger balances, assigned funds, and collateral value after haircut.

However, to begin with the square-off process there are some things you need to keep in mind:

You need to first identify the trade that you are willing to square off. This will help you make an informed decision as you will thoroughly analyse the position the trade is currently at and its future prediction.

Then it would help if you initiated the square-off by closing the trade position.
Ensure that the price and quantity entered by you is correct before confirming the square-off.
You can verify if your square-off order was executed by checking the order status. This will indicate whether the position has been closed.

For example, you have a maintenance amount of ₹10,000 and utilised a 5X margin for trading which brought you to ₹50,000. You purchased the shares of XYZ Company at ₹100 a piece. If you opt to square off the exchange once the cost is about ₹120, then you can sell 500 stocks incurring a profit that equals ten thousand rupees. Doing so helps control and close your intraday trades using Choice India.

Thus, this is how you can square-off by Choice India.