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+ Expand AllWhat is Super Multiple and How Does it Work?

Super Multiple Option is available as Bracket Order for Offline customers.

  • QFor whom is this facility available?
    A

    This facility is available only for online trading customers.

  • QWhat is Super Multiple?
    A

    Super Multiple offers high exposure on select stocks and Futures & Options contracts. Super Multiple orders can be used for Cash and Futures & Options trades. While placing a Super Multiple order first define scrip and quantity. Then select order type as Super Multiple. After that, you need to define stop loss trigger price for the given Super Multiple Order. Please note scrip multiple is offered based on liquidity, volume, volatility, etc. In case of change in any of these factors, scrip multiple may reduce.

  • QWhat will be the allowable range for stoploss trigger price?
    A

    You can place a stoploss trigger price in case of buying order as range between 1% below LTP to 1.01*Lower Circuit limit & for selling order as 1% above LTP to 0.99*Higher Circuit limit
    For example:-
    An ABC company is trading at 100 with Circuit Limits 70 –130, the stop loss trigger price can be defined as below :-
    1. SLTP range for buying order :- 99 to 70.7
    2. SLTP range for selling order :- 101 to 128.7

  • QHow does Super Multiple work?
    A

    Super Multiple is designed for traders who wish to take the advantage of intraday trading in large volumes, and thus, make the most of market conditions. With Super Multiple you can take a position on particular scrip(s) on a particular day and avail high exposure on your available margin. Super Multiple is an auto square off product. As such, you are required to square off all your open Super Multiple positions before 3:10 pm on the same day, after which our system will automatically square off your open Super Multiple positions.

  • QWhat will happen if I don't square off my positions by 3.10 p.m.on a particular trading day?
    A

    Since Super Multiple offers you high exposure levels, it is necessary that you square off all your open positions on a particular day by 3.10 pm. Incase you don't square off your positions, our system will automatically square off all open Super Multiple positions on the scrip(s) after 3.10 pm.

  • QWhat will happen if my order is partly traded and I don't square off my positions by 3.10 p.m.on a particular trading day?
    A

    Since Super Multiple offers you high exposure levels, it is necessary that you square off all your open positions on a particular day by 3.10 pm. Incase your order is partly traded and you don't square off your positions, our system will automatically cancel the pending order and square off all open super multiple positions on the scrip(s) after 3.10 pm .

  • QHow can I modify the order that I had placed earlier?
    A
    • In order to modify the details of the order that you had placed earlier, click on Check Order status in Equity menu.
    • Click on the text box next to the name of the scrip under the Stop Loss order.
    • On the next screen, change the details (please see next question for knowing more on modifying orders). Click on Change Order.
  • QHow can I modify the partly traded order that I had placed earlier?
    A
    • In order to modify the details of partly traded order that you had placed earlier, click on Check Order status in Equity menu.
    • Click on the text box next to the name of the scrip under the Stop Loss order.
    • On the next screen, change the details (please see next question for knowing more on modifying orders). Click on Change Order.
  • QCan I Square Off my Super Multiple Position by placing a Normal Square Off Order ?
    A

    No. A Super Multiple Position can only be squared off by placing a Super Multiple Order against the position that you want to exit.

  • QCan I place square off order for fully/partly traded Super Multiple Limit order?
    A

    Yes you can square off fully/partly traded super multiple orders. Please ensure to maintain sufficient gap of 1% between the stoploss trigger price and book profit order to avoid self-trade.

  • QHow do I know how much margin I have utilized?
    A

    In order to know how much margin has been utilized while using Super Multiple facility, you need to click on Available funds link in Equity Menu. Once inside the screen, you can click on the amount displayed below the Margin utilized column to get details on the valuations and multiples offered on the scrip.

    Important note: Any open position on a scrip using Super Multiple has to be squared off within 3.10 p.m. on that day itself, after which time our system will automatically square off all open positions

  • QCan I place a sell order on a scrip when I already have a Buy position in open in the same scrip?
    A

    You cannot place an opposite order in a scrip if you already have an open position in the same scrip. For example, if you place a buy Super Multiple order with a sell Stop Loss order, then you cannot place a Sell Super Multiple order in the same scrip till the buy position is squared off, i.e., to take a sell position you have to square off your buy long position first and vice-versa.

  • QWhich segments can I place Super Multiple orders in?
    A

    Super Multiple orders can be placed in NSE cash as well as NSE futures segment. Please note that position can be taken only in current month contracts only.

  • QWhich exchanges can I place Super Multiple orders on?
    A

    Super Multiple orders can be placed in NSE only.

  • QWhat are the reasons of Non-Acceptance of my order?
    A

    There might be different reasons for non-acceptance of your order which can be:-

    • You don't have sufficient margin in your account.
    • Scrip in which you are trying to place order is not available for super multiple.
    • If price of your stop loss order is out of daily price range.
  • QWhat if I want to carry my supermultiple position?
    A

    If you want to carry supermultiple position go to Report > Today’s Position select supermultiple position click on mark delivery. Now you can define quantity and click on ok to convert supermultiple position to delivery. Please note that system will check for margin required to convert position from supermultiple to delivery, You will not be able to convert position from supermultiple to delivery in case of insufficient margin.

  • QWhat if I want to carry my partly traded supermultiple position?
    A

    Convert to delivery option is not available for partly traded super multiple orders.

  • QHow can I square off an open positions in Super Multiple
    A
    • To Square off an open position, click on Today's Positions under Reports. This screen would show you the details of your open positions. Click on the position you want to square off.
    • Click on EXIT & set the price as either Limit or Market at which you would like to square off the position. Click on Square Off & Confirm.
    • You will be shown a screen having the reference number of the transaction. You can also check the details of this transaction by clicking on Order Status.

    Note: Please note that you can square off any open position in Super Multiple only through today’s positions. In case you place orders by not marking Super Multiple order, it will be considered a fresh order and hence it would not be considered as a square off of your Super Multiple position.

  • QCan I modify a square off order as Market which earlier placed at a limit price?
    A

    No. you cannot modify your limit order for square off to a market order. However, you can cancel the limit square off order & place a fresh square off order at Market price.

  • QCan I square off my super multiple position at market price?
    A

    Yes, you can place a fresh square off order at market price.

  • QHow do I place an order for particular scrip using Super Multiple?
    A

    Please follow the steps mentioned below to place an order in a scrip using Super Multiple:

    • Login to www.kotaksecurities.com by entering your UserId and Password > click on generate access code.
    • Enter access code and click on login.
    • Once inside the trading section click on Place Order Menu > Equity select segment (Equity / Derivative)
    • Select Buy / Sell > Select exchange > Type and Choose the scrip that you want to buy/sell and specify the quantity that you wish to trade in > Under the Order type choose Super Multiple Define Order price and Stoploss Trigger Price For super Multiple Order > click on Place Order.
    • Please note that the stoploss orders in super multiple product are placed at Limit Price

  • QHow do I check the Order Status of scrip in case I have chosen Super Multiple?
    A

    As with other normal orders that you place at www.kotaksecurities.com, you can check the order status of scrip (that has been bought/sold using Super Multiple) by clicking on the Check Order status Screen. This screen will show your order status details such as the quantity that you had placed an order for, the Limit/Market price at which the order was placed and also the details of the Stop Loss order. All orders placed using Super Multiple facility will be marked as Super Multiple.

  • QWhat are the details that I can modify in Super Multiple order placed?
    A

    You can modify the details of the Stop Loss Trigger Price but not the Leg1 Market order that you had placed initially as the market order would get traded the moment it is placed. If you have placed Leg1 super multiple order as limit then even first leg order will be available for modification in case if its partly/not traded. Even in the Stop Loss trigger price modification is possible and but not the quantity.

    For ex-

    Case 1:
    If you have placed a Super Multiple order to buy 100 Qty of ABC at Rs.1500 and defined Stop Loss trigger price as Rs.1480. You can modify this Stop Loss trigger price to Rs.1479.

    Case 2:
    If you have placed Super Multiple order to buy 100 Qty of ABC at Limit price of Rs.1500, defined Stop Loss trigger price as Rs.1480 & if the trade has been executed partially then you can modify the Stop Loss trigger price by keeping minimum 1% gap of the Limit buy order and you can also modify the Buy order by keeping minimum 1% gap from stop loss trigger price.

  • QWill brokerage be charged if I have subscribed to FIT/TFP plan?
    A

    No, brokerage will not be charged in Super Multiple trades as per FIT/TFP plan.

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