Is there any impact on the limit after a buy/sell order in margin product is executed?
Yes. Execution of a buy/sell order in the Margin product does impact your limits. If an executed order results in creation of a new position, the margin blocked on the order gets appropriately adjusted for the difference, if any, in the order price at which the margin was blocked and the execution price. Accordingly the limits are adjusted for differential margin. If an executed order is in the nature of a cover order, i.e. it results in squaring off of an existing open position in margin either partially or totally, the margin blocked on the open position to the extent squared off, will be released and profit & loss on the square off of such a transaction will be adjusted. Accordingly, the limits will be adjusted for the released margin as well as for the effect of profit and loss on the transaction. To view the details of your Limits, please click on ‘Limit’ link on the Equity trading page of your www.icicidirect.com account.
