At the time of placing the order, the margin is calculated as:{(Weighted average price of 1st order- limit price of cover order)* Quantity of shares} + {(Weighted average price of 1st order * quantity of shares) * cover margin % for the stock}. On execution of the order, the margin is adjusted as per the execution price.

For example, Execution price of 1st order = Rs. 1240. Your 1st leg order is a buy order for 200 shares of Axis Bank and the sell order for 200 shares is at trigger price = Rs. 1215 and Limit price = Rs. 1,154. Assume the cover margin % for Axis Bank be 0%. The margin blocked for the above cover orders will be: {(1,240-1,154)*200}+{1,240*200)*0%} = Rs. 17,200.