Typically, people begin trading with a minimal awareness of technical options. This problem impacts people in a variety of ways. They don’t understand how to use a feature on their trading platform or app from which they trade. The Convert Position functionality is one of them. The majority of individuals are unaware of How to convert intraday to delivery in zerodha?
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How to Convert Intraday to Delivery In Zerodha?
Among traders, intraday trading is very common. Intraday trading is the most popular choice for newcomers to the stock market. Nevertheless They do not understand how to secure themselves from intraday losses. For them, the Convert Position feature is the best option.
In Zerodha, the Convert Position feature is used to switch your trade from Intraday (Margin Intraday Square Off) to delivery (Cash and Carry) and vice versa. This feature can be found on the Position tab of the Kite platform or mobile app. For a better understanding see the image below.
Advantages of Convert Position Feature
- If you make a mistake in an Intraday trade, you can convert it to delivery and avoid losing money. If you convert your position to delivery, you will be able to take forward your losses.
- If you had purchased delivery stock and it had provided you a good return the same day. Without incurring any further costs, you can convert the delivery to Intraday and execute the sell order.
- If you acquired delivery stock and negative news regarding the stock came out at the same time. Without incurring any further costs, you can convert the delivery to Intraday and execute the sell order.
- If you bought share on Intraday and at the same time as any positive news regarding the stock. You can convert the Intraday to delivery and hold the share for a long time to generate even more profit.
Example of Converting Intraday to Delivery
If you acquired 20 stocks of Britannia via Intraday strategy in the early hours of the morning with the purpose of selling them within 2-3 hours the same day, but you ultimately decide to keep the shares until the following week owing to a loss or good news.
In this circumstance, you must go to the Kite online or app’s position area. If there are three dots in front of Britannia. You can select them by clicking on them. There will be a menu open up, as seen in the image above, where you can get a covert button.
You can simply click on convert to change the order to delivery. You can convert your delivery order to Intraday in the same way.
Note:
The brokerage will ultimately exit your position if you do not switch the order from Intraday to delivery before 3:20 p.m. You are not permitted to carry Intraday orders to the next day. Zerodha will also impose a penalty of INR 50 on every order.
Intraday to Delivery Conversion Charges
Converting your position to a different trade type imposes no additional fees. Whatever your final trade type is (Intraday or delivery), your expenses will be determined by your Zerodha plan at the end of the day.
Summary
Zerodha is rapidly growing in popularity. They do everything they can to make items easy for customers. One of the most important options for inexperienced traders to offset their losses is the convert position method.
This is all from our side regarding the How to convert intraday to delivery in zerodha? Let us know your views about how to convert intraday to delivery in the comment section.
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FAQ About can i convert intraday to delivery in zerodha?
Charges for converting delivery to intraday?
There are no extra charges in popular online trading apps.
Zerodha convert position mis to cnc charges?
There are no additional changes for converting the position.
Charges for converting intraday to delivery in upstox?
They don't charge extra for converting the position from Intraday to Delivery.
Can i convert short sell to delivery in zerodha?
No, You cannot convert Short sell intraday position to delivery as short selling is not allowed in India on Delivery basis.
Can we short sell in delivery?
No, You cannot short sell on delivery basis in India.
