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Refer to this useful Video regarding Order Types: Limit Order, Market Order, Stop Loss Order (SL), Stop Loss Market Order (SLM) and
Product Types: CNC (Cash and Carry), MIS (Margin Intraday Square Off), NRML (Normal Product type for Carryforward)
Every order that you enter must have a product type, based upon your trading pattern or what position you wish to take.
The product types are as mentioned below :
|Intraday / Jobbing
|Equity / F&O / Currency / MCX
|All intraday positions should be taken in MIS. These positions are squared off 15 minutes before market closing time in NSE & Currency and 30 minutes before market closing time in MCX
|Delivery trades in the Equity segment should be done in CNC. No leverage is provided for delivery trades.
|Carry forward Trades
|F&O / Currency / MCX
|All carry forward positions should be taken in NRML. You need to have the full required margin in your account for trading in NRML.
Kindly note that in Validity, by default 'Day' option will be selected, as IOC will be a good option for people who place market orders of large quantity thereby increasing the Impact cost.
For example, an order of 1000 with a disclosed quantity condition of 200 will mean that 200 is displayed to the market at a time. After this is traded, another 200 is automatically released, and so on until the full order is executed. (The Exchange may set a minimum disclosed quantity criteria from time to time).