TABLE OF CONTENTS

• I am unable to sell shares bought yesterday. Why?
• Why am I not able to place market orders to take Options positions in Navia Trading Platform?
• Why are my orders rejected if I place huge quantity of selling or buying? 
• My orders in Options are blocked. Why?
• Why am I, sometimes, blocked from taking fresh positions in same segment, even after selling for the required value?
• I have sold my existing Options Positions but unable to use the sale value to take fresh short position in Options. Why?
• Common Rejections in Rocket Plus Trading Terminal 
• Common Rejections in Navia Trading Terminal  

I am unable to sell shares bought yesterday. Why?

This is possible Scrips under T2T or Trade 2 Trade generally seen as BE or T series in the market watch cannot be sold without holding them in your demat account. This implies that you need to wait till the delivery which is Trade + 2nd working day to sell them. No intraday sell them Intraday or under BTST. T2T i.e, BE series, otherwise known as Trade to Trade segment cannot be sold without holding them in the demat account. This implies that if you buy them, you need to take delivery to your demat account and if you sell them you need to give delivery for the same. failing which it will attract high penalty. Hence, due care needs to be taken to not sell them Intraday and under BTST 

Why am I not able to place market orders to take Options positions in Navia Trading Platform?

To protect the interest of clients', market orders are blocked while taking fresh options positions. In case of market orders, there is a high risk of trade being executed at far off price as compared to LTP due to volatility or wide bid ask spread. Due to this, only limit orders are allowed to be placed when fresh positions are initiated in Navia trading platform. 

However, this restriction will not be applicable for square off orders. The only requirement is that, you need to navigate to your Positions tab and square off the positions from there to place a market order

Why are my orders rejected if I place huge quantity of selling or buying? 

There is a maximum limit on quantity up to which an order can be placed. If the orders needs to be placed beyond that quantity, it has to be placed as multiple orders and cannot be placed as a single order. This is to avoid what is called " fat finger" error. This is like placing an order to sell 100000 shares as a typo error instead of keying in 1000 shares. To avoid this Exchange has prescribed few limits up to which single order can be placed and these differs from terminal to terminal. Below given are the various limits fixed by Navia to protect clients from this error

Click here to see the quantity freeze limits set by Exchange

My orders in Options are blocked. Why?

You would have had an experience of being blocked from buying or selling few options and futures contracts and be wondering why. Here is the answer. Illiquid Options and futures are blocked as per Navia internal Risk management policy in order to protect traders from been stuck with a position in the absence of counter parties to cover the same. For example if we allow to buy an illiquid contract, a client would be able to create a position in it by buying or selling the contract. A risk arises when the client is unable to square off the position due to non availability of counter party which is highly common in illiquid contracts. As a result of this, the client would necessarily be required to bring in additional margins failure of which would attract penalties These penalties will be on the broker for not taking due diligence to prevent trading in illiquid contracts. To avoid these we block illiquid contracts.

Illiquid Options contracts are blocked on the basis Expiry, Strike Price, Volume and Open Interest.  Click here to understand options contracts that are blocked in Navia Trading Platform and Rocket Plus Trading Platform. 

Why am I, sometimes, blocked from taking fresh positions in same segment, even after selling for the required value?

Let's assume that you had 

a) an opening balance of Rupees 10,000 

b) and an Option position for Rupees 1.5 lakhs and 

c) you subsequently sold the Options position for 1.5 lakhs. 

Now your available balance will be 10000 + 150000 = 1,60,000. With this money if you try to sell 1 lot of Bank Nifty Options (the required margin of which is 1,38,000) with this money, it will reject. This is because, sell orders in Options require SPAN + Exposure and Additional Margin and this margin needs to be provided upfront. Whereas the sale proceed of your Options position, Rupees 1,50,000, will be released by Exchange only by T+1 day. Hence, it will be rejected.

Common Rejections in Rocket Plus Trading Terminal 

Common Rejections in Navia Trading Terminal  

Click here to to see all our RMS policies