How to use basket orders to buy options outside the Nifty or Bank Nifty range?
To use baskets for buying Nifty and Bank Nifty options outside the allowed range, start by entering the short/sell order in the Basket. Then, proceed to enter the Buy order. While the Sell leg entry may require a slightly higher margin, the final margin will be blocked based on the hedge after adding the Buy leg. This allows effective hedging of positions, as long positions are allowed of any range till their count is equal to the short futures or options position one holds in Zerodha.