Order Types
- Trigger price vs limit price on Kite
On Kite, the trigger price activates a pending stop-loss order while the limit price controls the execution price of the resulting limit order, two.
- STBT and why Zerodha does not allow it
STBT (Sell Today Buy Tomorrow), overnight short selling of equity shares, is prohibited by SEBI regulations for retail investors.
- SL-M (Stop Loss Market) order on Kite
An SL-M order on Kite is triggered at a set price and then executes as a market order, prioritising execution certainty over price control after the stop fires.
- SL (Stop Loss limit) order on Kite
An SL order on Kite combines a trigger price and a limit price: it activates only when the trigger is hit, then places a limit order at the specified price.
- Order validity types on Kite, DAY and IOC
DAY and IOC are the two order validity types on Kite.
- NRML product code on Zerodha
NRML (Normal) is Zerodha's product code for overnight F&O, currency, and commodity positions held at full SEBI-mandated exchange margins without.
- MTF product code on Zerodha
MTF (Margin Trading Facility) on Zerodha allows investors to buy eligible equity shares with borrowed funds, holding positions overnight at interest on.
- MIS product code on Zerodha
MIS (Margin Intraday Squareoff) is Zerodha's intraday product code offering leveraged positions that are automatically squared off by 3:20 PM if not.
- Market order on Kite
A market order on Kite instructs the exchange to buy or sell a security immediately at the best available price, guaranteeing execution but not the price.
- Limit order on Kite
A limit order on Kite lets traders specify the maximum price to pay or the minimum price to accept, guaranteeing price but not execution.
- Iceberg order on Kite
An iceberg order on Kite automatically slices a large order into smaller tranches, displaying only a fraction of the total quantity in the public order book.
- GTT (Good Till Triggered) order on Zerodha
Zerodha's GTT lets traders set conditional buy or sell orders that persist for up to one year, triggering only when the market reaches a specified price.
- Disclosed quantity orders
A disclosed quantity order shows only a fraction of the full order size in the exchange order book, hiding the trader's true intent while keeping the full...
- Cover order (CO) on Zerodha
A cover order on Zerodha is an intraday order paired with a mandatory stop-loss, enabling higher leverage by capping maximum loss at order placement.
- CNC product code on Zerodha
CNC (Cash and Carry) is Zerodha's product code for equity delivery trades, requiring full payment, with shares credited to the demat account on T+1 settlement.
- BTST (Buy Today Sell Tomorrow) on Zerodha
BTST lets a Zerodha investor sell shares purchased the previous day before they are credited to the demat account, exploiting T+1 settlement timing.
- Bracket order (BO), legacy Zerodha feature
The bracket order was a Zerodha intraday order combining an entry, a profit target, and a trailing stop-loss. Zerodha discontinued it in 2020.
- Basket order on Kite
A basket order on Kite lets traders place multiple buy or sell orders across different instruments simultaneously with a single submission action.
- Auction market on NSE and BSE
The auction market on NSE and BSE settles delivery shortfall cases where sellers fail to deliver shares, with the exchange running a separate auction.
- AMO (After Market Order) on Zerodha
An AMO on Zerodha lets traders place buy or sell orders outside market hours; the orders are queued and submitted to the exchange at the next session's open.