Zerodha Auto square-off MIS

Intraday auto square-off timings (MIS)

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Zerodha auto-squares intraday MIS positions before market close to avoid carry-over into delivery. Timings vary by segment.

Schedule

The cash-segment timings changed on 3 August 2026, when the Closing Auction Session moved the end of continuous trading in stocks that have F&O contracts from 15:30 to 15:15. Zerodha pulled its cut-off for those stocks forward accordingly.

SegmentAuto square-off
Equity cash, stocks with F&O contracts (CAS stocks)15:10 IST
Equity cash, all other stocks15:25 IST
F&O (NSE / BSE derivatives)15:26 IST
Currency derivativesabout 16:45 IST
Commodity (MCX) morningabout 16:45 IST
Commodity (MCX) evening5 to 10 minutes before the respective session end

Square-off timing is a broker risk-management policy rather than an exchange rule, so these figures are Zerodha’s and other brokers differ. Confirm against the broker’s own published bulletin before relying on them.

Why before market close

Squaring off ahead of the session end gives:

  • Margin for system risk management.
  • Time for execution at acceptable prices.
  • Buffer against last-minute volatility.

For a stock in the Closing Auction Session the buffer matters more than it used to, because continuous trading stops at 15:15 and the stock does not resume trading after the auction prints. A position not closed by then is squared off into the auction, at a single equilibrium price rather than at a price the trader chooses.

If positions weren’t auto-squared, an unintended carry into delivery / next session would occur.

How it works

At the schedule time:

  • System places market orders to close MIS positions.
  • Execution at prevailing market prices (slippage possible).
  • Realised P&L locks in.

The trader can manually close positions before this window to avoid forced exits.

Risk

Auto-square-off uses market orders. On illiquid scrips or during volatile last 10 minutes, execution can be at worse-than-LTP prices. Always manually exit before this window if possible.

See also

External references

References

  1. Zerodha, Auto square-off schedule, support.zerodha.com.
  2. NSE India, Intraday risk management framework, nseindia.com.

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