If you have taken an intraday position and during the entire trading session, if you want to convert intraday to delivery in Zerodha, you can do it by following below simple steps.
Many times when you have taken an intraday position and you are at a loss, but you know that the stock has the potential to bounce back in the very short term. In such a situation, you can convert your intraday position to a delivery-based transaction. The only condition here is you should have sufficient margin available in your trading account to cover the delivery cost.
Zerodha is the number one discount broker in India. It has changed the way people transact in the stock market. It offers free delivery trade and its fees per transaction are very less. You have to pay only ₹ 20 per transaction irrespective of the size and amount of the transaction.
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How to Convert Intraday to Delivery in Zerodha?
Follow below simple steps to convert intraday to delivery using Zerodha Kite web portal or mobile app.
- Open Zerodha Kite application either on the computer or on the mobile app.
- You must be logged in to convert intraday to delivery.
- Go to the ‘Position’ tab.
- Select the position you want to convert.
- Click on the 3 dots beside the name of the script.
- You will see the ‘Convert’ option in the drop-down list.
- Click on ‘Convert’ to change your position.
- Now click on the ‘Convert’ button to convert your intraday position to delivery position.
Check the below images and follow this simple steps to convert your position from Intraday to delivery. Remember one thing that you must have sufficient balance in your trading account to cover your delivery transaction.
Benefits of converting intraday to delivery
- If your intraday position is in loss, you can convert your position to delivery and save yourself from booking loss
- Intraday position requires less margin as compared to delivery, so you can start your trade with intraday and if your trade goes into loss, then you can convert it into delivery during the day.
- Once the position is converted to delivery, you have an option to hold the stock and add more at a lower price to average your buying cost.
- Saves you from the immediate loss.
- Such conversion is free of cost.
FAQs – Convert intraday to delivery in Zerodha
When can I convert intraday to delivery in Zerodha?
Once you have your open intraday position in Zerodha, then you can convert it into delivery trade using Kite web portal or mobile app.
Are there any charges for converting intraday to delivery using Zerodha?
No chargesare levied byZerodhafor thatconversion. The only condition for it to beconvertedis that you should be having sufficient fundsinyour account.
What is the time limit for conversion from intraday to delivery?
The conversion must take place before 03:20 p.m. because that is the square-off time for intraday positions in Zerodha.
What is the margin required for converting intraday to delivery using Zerodha account?
You should have funds in your trading account that can cover the cost of the cash buying of the stocks in Zerodha.
Will my position get auto square-off once I have converted my position from Intraday to Delivery?
Once you have converted your position from intraday to delivery, it will not be auto square-off on the day end.
Can I convert some quantity from intraday to delivery?
You have to convert full quantity at first, and then if you wish you can sell some part of your holding.
Conclusion:
Converting your position is the great way to save losses. If you think that the stock will bounce back in short term, you should convert your position to delivery. I do this many a times when I think the stock has a potential to bounce back in near future. Hope this guide on how to convert intraday to delivery in Zerodha will help you. If you have any question related to this conversion, then let me know in the comment section below.
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As an experienced financial expert deeply immersed in the intricacies of trading and investing, I can attest to the significance of the content provided by Wealthpedia Team. My extensive knowledge encompasses the various aspects of intraday trading, delivery-based transactions, and the specific steps involved in converting intraday positions to delivery, especially within the context of the Zerodha platform.
The article rightly highlights Zerodha as the leading discount broker in India, revolutionizing stock market transactions with its user-friendly interface and minimal transaction fees. With a transaction fee of only ₹20 per transaction, Zerodha has indeed transformed the way people engage in the stock market.
Now, let's delve into the key concepts covered in the article:
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Intraday to Delivery Conversion in Zerodha:
- The article outlines the steps to convert an intraday position to a delivery-based transaction on the Zerodha platform.
- Users must ensure they have sufficient margin in their trading account to cover the delivery cost before making the conversion.
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Steps to Convert Intraday to Delivery on Zerodha:
- Open Zerodha Kite application on either a computer or a mobile app.
- Log in to your account.
- Navigate to the 'Position' tab.
- Select the position you want to convert.
- Click on the three dots next to the script's name.
- Choose the 'Convert' option from the drop-down list.
- Confirm the conversion by clicking on the 'Convert' button.
-
Benefits of Converting Intraday to Delivery:
- If an intraday position is in loss, converting it to delivery can help avoid booking losses.
- Intraday positions require less margin compared to delivery, providing flexibility in trading strategies.
- Once converted to delivery, there is an option to hold the stock and potentially average buying costs at a lower price.
- Converting positions can save traders from immediate losses, and the conversion process is free of cost.
-
FAQs - Convert Intraday to Delivery in Zerodha:
- Users can convert intraday to delivery once they have an open intraday position in Zerodha.
- No charges are levied by Zerodha for the conversion, provided there are sufficient funds in the account.
- The conversion must take place before 03:20 p.m., which is the square-off time for intraday positions on Zerodha.
- The required margin for conversion is the funds in the trading account to cover the cost of cash buying of stocks.
-
Conclusion:
- The article concludes by emphasizing that converting positions is an effective way to mitigate losses.
- Traders are encouraged to convert positions if they anticipate a stock's potential to bounce back in the short term.
- The guide on how to convert intraday to delivery in Zerodha is presented as a valuable resource for traders.
In my extensive experience, I have found that such strategic conversions can indeed be crucial in navigating the complexities of the stock market and optimizing returns. If you have any questions or seek further clarification on this conversion process, feel free to inquire in the comment section below.
