Can I use intraday profits to take new positions?

No, you cannot use intraday profits to take fresh positions until they are settled (till T+1). For example:

Particulars- Trade on MondayAmount/Quantity
Stock Name 
Buy Quantity 
Buy Value
Rs. 4,00,000 (Rs. 400 per share)
Sell Quantity
Sell Value
Rs. 4,20,000 (Rs. 420 per share)
Intraday Profit  Rs. 20,000

Here, the intraday profits of Rs. 20,000 earned on Monday will be available as margins to take new positions or for withdrawal only after settlement of the trade i.e., Tuesday (T+1).

On the other hand, margins used to enter the intraday trade will be released on Monday itself.

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