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Why am I not allowed to trade GSM stage 2 and above stocks?

You will not be able to buy the stocks that are in GSM stage 2 or higher. These stocks require Additional Surveillance Deposit (ASD) of 100% the trade value or more. The ASD margin will remain blocked by the exchange for a period of at least 3 months even after you sell the stock. 

The restrictions are only applicable to fresh buy purchases as part of our RMS policy. If you hold a GSM stage 2 and above stock in your account, you will be able to exit it.

You can check more about GSM stocks here. If a stock is in GSM stage 0 or 1 or the ASM category, you will be able to buy it using TOTP