Comment on Margins- 2 Exit orders for 1 position

I have Rs.15,000 as trading capital. I use up the entire amount to buy, lets say, 400 shares – using leverage via MIS or CO. The stock goes up in value by 1% sometime during the day. Now, I want to exit and simultaneously open a short position of the same size because I expect the value to now fall. Can I place a Sell order for 800 shares? Note that I do NOT have any margin left. I do not know if the system is “intelligent” enough to understand that selling the first 400 (out of the 800 shares sell order) will automatically generate the margin for shorting the next 400.

View the full comment thread »