How to do Square off by HDFC Securities?
Square off in the stock market refers to the act of closing out an open position in the market. This action is often taken to realize profits or cut losses. In intraday trading, where investors aim to capitalize on short-term price movements within a single trading day, square off becomes crucial for managing positions effectively.
Steps to square off a position through HDFC Securities
| Steps | Descriptions |
| 1 | Login to your trading account |
| 2 | Choose Trading Option |
| 3 | Click on buy/sell option |
| 4 | See Market price at “LTP” (Last Traded Price) Section |
| 5 | Select the product type as “Intraday” |
| 6 | Choose the order type as “Limit Order” or ”Market Order” |
| 7 | Click on Place order |
| 8 | Click Submit |
| 9 | Click on Order Book & then Open Positions |
| 10 | In the open position click search |
| 11 | Click on Square-Off |
| 12 | For intraday orders select limit order |
| 13 | If choosing a limit order, click place order |
| 14 | Click Submit |
Square Off Using HDFC Securities
Step 1: Login to Your Account: Log in to your trading account with the credentials. The home screen provides a live update of the market.
Step 2: Navigate to Trading: Now Click on the “More” option and then choose the “Trading” option.
Step 3: Choose Buy/Sell: In the trading section, click on the “Buy/Sell” option to process and initiate a transaction.
Step 4: Enter Stock Details: The market price will be auto-populated in the “LTP” (Last Traded Price) section.
Step 5: Select Product and Quantity: Choose the order type as either “Limit Order” or “Market Order.” Market orders are executed at the current market price and limit orders allow you to set a specific price.
Step 6: Choose Order Type: Select the order type as either limit order or market order. For market orders, stocks will be traded at the prevailing market price. For limit orders, specify the price at which you want to buy.
Step 7: Place Order: Click on “Place Order” to submit your trade. Review the details and confirm the order.
Step 8: Online Funds Block: Upon confirmation, an online funds block is initiated in your linked savings account.
Step 9: Check Order Book: Go to the order book section and click on the “Open Positions” tab to view your active trades.
Step 10: Select Position to Square Off: Locate the position you want to square off and click on it.
Step 10: Square Off: The sell screen will appear with fields auto-populated. Choose the order type (limit or market) for the sell order.
Step 11: Enter Quantity and Price: If selecting a limit order, enter the quantity and the price at which you wish to sell.
Step 12: Place Sell Order: Click on “Place Order” to submit the sell order.
Step 13: Review and Confirm: Review the details of your sell order and confirm the transaction.
Step 14: Completion: Upon confirmation, your intraday order is successfully completed, and a sell order reference number is generated, finalizing your trade.
Remember that there are inherent dangers to trading in the financial markets. Before making an investment choice, it is critical to review all relevant papers and understand the risks thoroughly.