MIS on WebNotes

Cover order (CO) on Zerodha

Mon, 11 May 2026 00:00:00 +0000

A cover order (CO) is a special intraday order type on Kite, Zerodha’s trading platform, that combines an entry order with a compulsory stop-loss order placed simultaneously. The mandatory stop-loss is placed as an SL-M (Stop Loss Market) order at the time the entry order is submitted. Because the maximum possible loss on the position is pre-defined by the stop-loss range, the exchange and broker can offer higher leverage (lower margin requirement) for cover orders compared with standard MIS intraday orders.

Equity intraday brokerage at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges 0.03 percent of turnover per executed order or Rs 20 per executed order, whichever is lower, on equity intraday trades placed under the MIS (Margin Intraday Square-off) product type on its Kite platform. This rate applies on each leg of the trade – both the opening order and the closing order – and is assessed against the actual traded value, not the notional value leveraged through intraday margin.

Equity segment on Zerodha

Mon, 11 May 2026 00:00:00 +0000

The equity segment on Zerodha is the platform’s largest business line by client headcount and turnover. It covers the buying and selling of equity shares listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the cash market (CM) segment. All trades in this segment are governed by the Securities and Exchange Board of India (SEBI) and cleared through NSE Clearing Limited (NCL) and Indian Clearing Corporation Limited (ICCL) for BSE. Settlement since January 2023 occurs on a T+1 basis for most listed equities, meaning shares and funds move between counterparties on the trading day plus one calendar day.

MIS product code on Zerodha

Mon, 11 May 2026 00:00:00 +0000

MIS (Margin Intraday Squareoff) is a product code on Kite, Zerodha’s trading platform, that designates an order as an intraday trade. Positions opened under MIS must be closed within the same trading session. If a MIS position remains open at approximately 3:20 PM, Zerodha automatically squares it off (closes it) at the prevailing market price. In exchange for the intraday restriction, Zerodha offers additional leverage over the CNC equity delivery product.

MIS is available for equity (cash segment), equity derivatives (F&O), currency derivatives, and commodity derivatives. It is the primary product code for active intraday traders on Kite.