If you are seeing a margin requirement when trying to exit your position, it’s likely because you already have an open order on your position.
Existing Open Order Conflict:
You might have an existing open order to exit your position (e.g., a Stop Loss (SL) or Limit Order). When you attempt to place another exit order (e.g., at Market Price), the system treats the second order as a new position, requiring additional margin.
Example
- Current Position: You hold +100 in an F&O contract.
- Existing Open Order: A Stop Loss (SL) or Limit Order is already placed for 100 quantities.
- Action Taken: You place a new Market Order to sell 100 quantities.
- System Behavior: The system interprets this as creating a new short position (since the first open order is still active), requiring additional margin. The new order will be rejected if sufficient margin is unavailable.
How to Avoid Margin Requirement:
Option 1: Modify Your Existing Order to Market Price
- Go to the 'Stocks' section on the homepage.
- Tap on the 'Orders' tab.
- Select the open order you want to modify.
- Tap on 'Sell at Market order'.
Option 2: Cancel the Existing Order and Place a New One
- Go to the 'Stocks' section on the homepage.
- Tap on the 'Orders' tab.
- Select the open order you want to cancel.
- Tap on 'Cancel' and place a new order.