You may be blocked from taking fresh positions in the derivatives segment even after selling your existing positions and having sufficient sale value. This happens due to the timing of fund availability. Here's an example:

Flow of Events:

• Carry Forward Options Value: ₹1 lakh
• Uploaded Cash Margin (Opening): ₹5,000
• Sale Value After Squaring Off: ₹85,000
• Loss on Intraday Trades: ₹15,000
• Net Sale Credit: ₹75,000 (₹5,000 + ₹85,000 - ₹15,000)

Reason for Blocking:

• M-to-M loss of ₹15,000 is due on T date (trade date).
• Sale proceeds of ₹85,000 are available on T+1 (next working day).
• The available balance of ₹5,000 is insufficient to cover the M-to-M loss.
• Shortfall: ₹10,000 needed to clear the M-to-M loss on the same day.

As a result, fresh positions are blocked to comply with regulatory norms.

Alternate Solution:

• Make a pay-in for the uncovered M-to-M loss (₹10,000) to unblock fresh trades.
• Or, wait a day and then take fresh positions.