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+ Expand AllSuper Multiple FAQs
QFor whom is this facility available?A
This facility is available only for online trading customers.
QWhat is Super Multiple?A
Super Multiple is a service that offers you up to 18 Times exposure on NIFTY 50 Scrips and 14 times exposure on additional specified scrips against your margin. For e.g. if you have a margin of Rs. 1,00,000/-, you will get up to 18 times exposure on your Super Multiple orders, i.e. Rs. 18,00,000/-.
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 for Nifty 50/ Rest of the super multiple scrips. To check available scrips under SuperMultiple www.KotakSecurities.com go to Reports > Positions > Margin Required.
QHow does Super Multiple work?A
Super Multiple is designed for traders who wish to take the advantage of intra-day trading in huge volumes and thus make the most of market conditions. It is an auto square off product. With Super Multiple you can take a position on particular scrip(s) on a particular day and avail upto 18 times exposure on the initial margin. You will have to square off all your open positions within 3.10 pm on that day itself, after which our system will automatically square off your open 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 positions on the scrip(s).
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 > click on Place Order.
Please note that the orders in super multiple are placed at Market price by default. However our system will place a Stop Loss order with a trigger price set at a difference of 4% from the market price by default. Click on Place Order.
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 market price at which the order was placed and also the details of the Stop Loss order that was placed by the system by default. All orders placed using Super Multiple facility will be marked as Super Multiple.
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.
QWhat are the details that I can modify using Super Multiple?A
Clients can modify the details of the Stop Loss order that was placed by the system but not the Market order that they had placed initially as the market order would get traded the moment it is placed. Even in the Stop Loss order modification is possible only for the trigger price and not the quantity of scrips.
If you had placed an order (using Super Multiple) to buy 100 scrips of Infosys at Rs. 1500, our system would have placed a Stop Loss order to sell 100 scrips with a trigger price of say Rs. 1425.You can modify this Stop Loss order's trigger price to say Rs. 1430, but not any value below Rs. 1425.
Assuming you had placed an order to sell 100 scrips of a company A at Rs. 100, our system would have placed a Stop Loss order to buy 100 scrips of company A with a trigger price of say Rs. 105.You can modify the trigger price of the Stop loss order to say Rs. 102 but not any value above 105.
Note: Clients can't modify the quantity of shares in the Stop Loss order.
QHow can I square off the positions on a scrip that I had taken earlier in the day?A
- To Square off the position that was taken on particular scrip, click on Today's Positions in Equity Menu. This screen would show you the details on the scrip(s) that you had earlier bought/sold.Click on the text box adjacent to the name of the scrip and click on Place Order
- On the next screen, you can set the price at which you would like to square off the position in that scrip(s) or simply square it off at market price by typing in "0" in the space provided.Please note that you can choose to square off your position in various lot sizes. For ex- if you had bought 100 scrips of a company earlier, you can choose to square off the scrips in any lot size say 20 at a time then 35 then the rest and so on.However you cant square off by selling /buying more scrips than what was transacted in the initial market order.In other words you cant sell 120 shares when you had only bought 100 shares initially.
- Click on Place Basket Order
- You will be shown a screen having the reference number of the transaction. You could also check the details of this transaction in Check Order Status. Here too you can modify the order status if the order is in Open 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 on an order. it will be considered a fresh order and hence not a square off to the Super Multiple order
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 cash as well as futures segment.Please note that position can be taken only in current month
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.
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