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
Once you have your open intraday position in Zerodha, then you can convert it into delivery trade using Kite web portal or mobile app.
No charges are levied by Zerodha for that conversion. The only condition for it to be converted is that you should be having sufficient funds in your account.
The conversion must take place before 03:20 p.m. because that is the square-off time for intraday positions in Zerodha.
You should have funds in your trading account that can cover the cost of the cash buying of the stocks in Zerodha.
Once you have converted your position from intraday to delivery, it will not be auto square-off on the day end.
You have to convert full quantity at first, and then if you wish you can sell some part of your holding.
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.