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

SegmentAuto square-off (approximate)
Equity (NSE / BSE cash)15:10-15:20 IST
F&O (NSE / BSE derivatives)15:20-15:25 IST
Currency derivatives~16:45 IST
Commodity (MCX) morning~16:45 IST
Commodity (MCX) evening5-10 minutes before respective session end

Why before market close

Auto-squaring at 15:10 (well before 15:30) gives:

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

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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