Surveillance on WebNotes

Why iceberg and MIS orders are not allowed for some stocks on Kite

Sun, 21 Jun 2026 00:00:00 +0000

Iceberg and MIS intraday orders disappear from the Kite order window for a stock when that scrip sits under a surveillance framework, in the trade-to-trade segment, has thin liquidity, or carries a narrow circuit band. In those cases Kite removes the MIS and cover order (CO) products and the iceberg slicing option, leaving only CNC delivery for that symbol. The block is not a glitch; it is the broker and the exchange withdrawing leverage and order-slicing from a scrip where same-day netting or hidden size would raise settlement risk or aid price manipulation.

Why you cannot buy a stock on Kite even though it is trading on the exchange

Sun, 21 Jun 2026 00:00:00 +0000

A stock can trade on the National Stock Exchange or the Bombay Stock Exchange yet be unbuyable on Kite because the block is imposed at a layer above the exchange’s trading status: a series mismatch the exchange itself rejects, a surveillance buy-block that Zerodha applies because it does not collect the additional surveillance deposit, a trade-to-trade or graded-surveillance restriction, or an illiquid scrip Zerodha has chosen not to offer for fresh buying. The stock printing a live last traded price tells you only that the exchange is matching trades in it, not that your broker permits you to add a fresh position.

Zerodha IP address shared alert

Sat, 20 Jun 2026 00:00:00 +0000

The Zerodha IP address shared alert is an email Zerodha sends when two or more Zerodha accounts log in from the same device or network and therefore share a single public IP address. Zerodha sends it because, under an NSE compliance rule, brokers capture and report client IP addresses for security and surveillance, and a common IP across accounts is something the broker has to explain to the exchange. The alert asks you to clarify why the accounts share the address; it is a question, not a verdict.

Zerodha reversal trades clarification email

Sat, 20 Jun 2026 00:00:00 +0000

The Zerodha reversal trades clarification email is a message Zerodha sends asking you to explain trades that exchange or internal surveillance has flagged as possible reversal trades, transactions that buy and sell identical contracts in a short interval and cancel out in market position. Zerodha sends it because SEBI and the exchanges require brokers to monitor, seek clarification on, and report trading activity that is not performed in the normal course of transactions. The email is a request to establish that your trades were genuine; it is not, by itself, a finding that they were not.

Periodic Call Auction stocks

Wed, 20 May 2026 00:00:00 +0000

Periodic Call Auction (PCA) is a discrete-interval order-matching mechanism used by NSE / BSE for thinly traded or heavily surveilled stocks. Instead of continuous matching during market hours, PCA matches orders at scheduled intervals (typically every 30 minutes or hour), allowing price discovery in a controlled environment.

How PCA works

In a normal session:

Continuous matching of buy and sell orders throughout 09:15 to 15:30.
Real-time price discovery.

In PCA:

Surveillance measures and trading risks

Wed, 20 May 2026 00:00:00 +0000

SEBI / NSE / BSE operate several surveillance frameworks to maintain market quality. For traders, each framework creates specific risks:

Surveillance frameworks overview

Framework	Focus	Risk for trader
ASM (Additional Surveillance Measure)	Price-volume anomalies	Higher margin, T2T, restricted trading
GSM (Graded Surveillance Measure)	Fundamental quality concerns	T2T, tight price band
Trade-to-Trade (T2T)	Delivery-only segment	No intraday
Periodic Call Auction (PCA)	Illiquid / restricted scrips	Discrete-interval matching
Circuit filters	Daily price band caps	Locked at circuit price

Risk-management implications

For each surveillance level: