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What does margin available and margin used mean?

When it comes to funds in your trading platform, the total account value is the closing balance of the previous day's ledger, brought forward.

Margin Used consider - 

  1. The net funds utilized for your executed equity intraday, F&O positional /intraday trading & delivery orders.
  2. The amount blocked for your Open orders yet to be executed.
  3. Whenever you sell your shares, open F&O positions or if you’ve made profits intraday the margin used will be negative. 
Whenever you square off your positions margin used will be credited back to Margin available. Margin available is the amount available for you take further positions.

If you have not added money on a particular trade date and have traded, then the Total Account Value = Margin Available + Margin Used.