How-to How to NRML MIS Product conversion Kite Zerodha

How to convert an NRML position to MIS on Kite

From WebNotes, a public knowledge base. Last updated 21 June 2026. Reading time ~9 min. Level: Intermediate.

Key facts

Navigation (Kite web)	Positions > Options next to the position > Convert > select MIS > Convert
Main consequence	The position becomes intraday and is auto-squared-off at the segment cut-off (around 3:20 PM equity, 3:25 PM equity F&O)
Margin effect	MIS carries the reduced intraday margin, freeing blocked margin versus NRML
RMS square-off charge	Rs 50 + GST applies if Zerodha's RMS desk squares off the converted MIS position
Cannot convert	Cover Order (CO) positions; cardamom and mentha oil one day before the tender period

Procedure

Open the Positions tab on KiteOn Kite web, click Positions. On the Kite app, tap Portfolio, then Positions. Locate the open NRML position you want to convert to intraday.
Open the conversion panelOn Kite web, click Options next to the position row, then Convert. On the Kite app, tap the position, scroll up, and tap Convert Position.
Select MIS as the target productIn the conversion panel, select MIS as the target product code. Enter the quantity to convert; you can convert the full position or a partial quantity.
Confirm the conversionClick or tap Convert to confirm. The position now shows MIS in the Positions tab and falls under intraday auto-square-off rules for the rest of the session.
Set a stop-loss for the intraday positionBecause the position is now intraday and will be squared off at the cut-off, place a fresh MIS stop-loss to manage risk and avoid an RMS-driven square-off charge.

Converting an NRML position to MIS on Zerodha Kite changes an overnight or carry-forward position into an intraday one, which lowers the blocked margin to the intraday level but subjects the position to auto-square-off at the segment cut-off. You do it from the Positions tab in two clicks, selecting MIS as the target product. The trade-off is the point of the conversion: you free margin now, but the position will be closed for you by the end of the session unless you square it off or convert it back first.

This is the opposite direction of the more common conversion. People usually convert intraday to delivery to hold a position past the cut-off; converting NRML to MIS does the reverse, turning a carry-forward F&O or delivery-margin position into an intraday one to release the overnight margin. Do it deliberately, because once the position is MIS it is on the auto-square-off clock.

Conflict-of-interest disclosure. This guide is published by the WebNotes Editorial Team for informational purposes and is written independently. WebNotes operates a Zerodha account-opening referral programme, disclosed on the pages that carry the referral link; this guide does not carry it and earns no referral commission from the procedure described here.

Why convert NRML to MIS

NRML (Normal) is the carry-forward product code: it blocks the full overnight margin (SPAN plus exposure for F&O) and lets the position run past the day’s close. MIS (Margin Intraday Square-off) blocks only the reduced intraday margin and is closed out at the day’s cut-off. Converting NRML to MIS mid-session swaps the higher overnight margin for the lower intraday margin, releasing the difference back to your usable balance for the rest of the day.

The trade is intentional. You take the position off carry-forward status, accept that it will be squared off automatically, and in exchange get the margin back to deploy elsewhere in the same session. If the position is already in profit and you no longer want to hold it overnight, this also lets the intraday leverage work on the remaining session. The margin a position will consume in each product is previewed on the margin required field of the order window , and the segment-wide SPAN and exposure mechanics are in SPAN and exposure margin on Kite .

Step-by-step procedure

The numbered box at the top of this guide gives the sequence. The detail below expands the two places people get caught: the conversion path differs slightly between Kite web and the app, and the square-off consequence needs a stop-loss to manage.

1. Open the Positions tab on Kite

On Kite web , click Positions in the left navigation. On the Kite mobile app , tap Portfolio in the bottom navigation, then Positions. Find the open NRML position; its product column reads NRML. Only open positions in the current session can be converted.

2. Open the conversion panel

On Kite web, click Options next to the position row, then click Convert. A conversion panel opens. On the Kite app, tap the position to expand it, scroll up, and tap Convert Position. The path is the same conversion engine that handles the reverse direction in How to convert MIS to CNC on Kite .

3. Select MIS as the target product

In the conversion panel, select MIS as the target product code. Enter the quantity you want to convert. You can convert the full open quantity, or a partial quantity if you want only part of the position on the intraday clock and the rest left as NRML. Converting partial quantity is useful when you want to free some margin but keep a core position overnight.

4. Confirm the conversion

Click or tap Convert to confirm. The Positions tab now shows the converted quantity under product code MIS. The blocked margin drops to the intraday level, and the released margin returns to your usable balance for the session. The conversion can take a few seconds to reflect; do not click Convert repeatedly while the Positions screen refreshes.

5. Set a stop-loss for the intraday position

The converted position is now intraday and will be auto-squared-off at the cut-off whether it is in profit or loss. Place a fresh MIS stop-loss to control the downside on your own terms rather than leaving the close entirely to the cut-off; an SL-M order is the common choice. This also helps you avoid the RMS-driven square-off charge described below, which applies when Zerodha’s risk desk closes the position rather than you.

The auto-square-off consequence

This is the consequence that matters most, and the reason to convert deliberately. Once the position is MIS, it is subject to intraday auto-square-off timings : around 3:20 PM for equity, 3:25 PM for equity derivatives, 4:45 PM for currency, and 11:05 PM for commodities. At the cut-off, Zerodha’s system closes any open MIS position regardless of profit or loss.

If Zerodha’s RMS desk performs the square-off, a charge of Rs 50 plus GST applies to each position squared off by the desk, including the automatic square-off. You avoid this by closing the position yourself before the cut-off, either by exiting it or by converting it back to NRML or CNC. If an MIS position is somehow not squared off on the day, Zerodha does not leave it open in MIS: it carries the trade forward as a CNC delivery or NRML overnight position, restoring the overnight margin requirement.

How this differs from MIS to CNC

The two conversions move in opposite directions and serve opposite goals. Converting MIS to CNC takes an intraday equity position off the square-off clock so you can hold it overnight; it requires the full delivery value to be available, because CNC is unlevered. Converting NRML to MIS does the reverse: it puts a carry-forward position onto the square-off clock to release overnight margin, and it lowers the margin requirement rather than raising it.

The direction also changes which checks can block you. An MIS-to-CNC conversion can be rejected for insufficient funds, because delivery needs the full value. An NRML-to-MIS conversion rarely fails on margin, since the target requirement is lower, but it cannot be done on a Cover Order (CO) position, and agricultural commodity contracts such as cardamom and mentha oil cannot be converted to MIS one day before their tender period starts. For the delivery-direction conversion, see How to convert MIS to CNC on Kite and How to convert CNC to MIS on Kite .

Pending orders after conversion

A conversion changes the product code of the position, not of any orders you already have resting against it. If you placed an NRML stop-loss or target order alongside the position, that order stays NRML after you convert the position to MIS. Review your open orders and cancel or replace any leftover NRML orders with MIS orders so the protection matches the position’s new product code. A mismatch can leave the position effectively unhedged for the intraday session.

What can go wrong

Forgetting the square-off clock. Once converted to MIS, the position is auto-squared-off at the cut-off. If you wanted to hold it overnight, do not convert to MIS; that is what NRML and CNC are for.
RMS square-off charge. If Zerodha’s RMS desk closes the converted MIS position, Rs 50 plus GST applies. Close it yourself before the cut-off to avoid the charge.
Trying to convert a Cover Order. CO positions cannot be converted to any other product type. Exit the CO instead.
Cardamom or mentha oil near tender. These agricultural commodities cannot be converted to MIS one day before the tender period starts.
Stale protective orders. A leftover NRML stop-loss does not convert with the position. Cancel and replace it with an MIS order so the position stays protected.
Expecting overnight margin to return tomorrow. The released margin is for the current session. If the position is carried forward as NRML or CNC instead of being squared off, the overnight margin requirement comes back.

External references

References

Zerodha support, How to convert overnight (NRML) positions to Intraday (MIS)? (as of 21 June 2026).
Zerodha support, Intraday auto square-off timings for open intraday positions (as of 21 June 2026).
Zerodha support, Auto square-off charge of Rs 50 plus GST for RMS-driven square-offs (as of 21 June 2026).
SEBI, Margin framework for equity derivatives and intraday leverage rules.
NSE Clearing, SPAN margin methodology for the F&O segment.

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WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 21 June 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.