Amount based Equity SIP is a 'SIP type' where in a fixed amount is invested in your desired set of stocks at a defined frequency/ interval selected by you. At the time of order placement, since the quantity of shares for each individual scrip wise has to be specified, the same will be derived with the following logic:

Quantity of shares = SIP Amount / {Last Traded Price (LTP) + 3% of LTP (buffer)}. Any fractional quantity will be ignored and an Order will be placed on the balance quantity. A buffer of 3% on the prevailing market price would be considered to adjust the fluctuation in the price movement of the stock after the order is released to the Exchange.

If the SIP amount is less than the market price of 1 share of specified stock, then whole Equity SIP order would not be sent to exchange on that day.

Note: AxisDirect reserves the right to change the Buffer % any time without giving any prior notice.

Click Here to know the steps on how to place an Equity SIP order.

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