CNC vs MIS in Zerodha

Have you been trading for years? You must know about Zerodha, which is a significant stock broker in India. Oh! Have you opened your trading account with Zerodha? That’s great! With over 30 lakh clients, Zerodha is an eminent name for traders, where clients love to use their seamless products. However, one of the most incredible products offered by Zerodha is its top-notch Kite Trading platform. Being a pioneer of the Indian discount brokering industry, almost every beginner to the highly experienced traders prefer to avail of its seamless services.

Anyways, talking about the crucial abbreviations, like CNC and MIS in Zerodha, clients often find these difficult to understand. That’s why we have summed up critical information to let you be aware of such abbreviations and the distinct similarity and dissimilarities between CNC and MIS in Zerodha. Nonetheless, these are the unique Zerodha products, which are straightforward to use once you fathom it. So, let’s get started!

CNC vs MIS in Zerodha

Top Zerodha Product Codes

The Zerodha product codes are the essential abbreviations for diverse codes in order to perform various actions. Some unique product codes of Zerodha are shown below:

  • MIS
  • CNC
  • LMT
  • KMT
  • SL
  • SL-M
  • MKT
  • Disclosed Quantity
  • Trigger Point

Here, we will make a fair comparison between CNC vs MIS in Zerodha.

MIS in Zerodha Kite

The complete form of MIS is “Margin Intraday Square-off,” which trades throughout future and options delivery, equity, and commodity segments. So, when you identify and set the type of product of your “MIS” Zerodha orders, it is crucial to square off your open position prior to the closing time of the share market. The square of time of Zerodha is 3:20 pm for intraday trades.

Zerodha MIS Rates

Do you want to place successful mobile and web MIS orders on Zerodha Kite? You can easily do so completely free of cost! According to your product type, the brokers will never charge any additional fee setting MIS. You have to opt for your coveted stock, fill in the price, limit stocks, charges, quantity, and trigger prices if necessary. Lastly, you should pick “MIS and you are done!”

How Can You Place Zerodha MIS Order?

The order placing procedure for MIS is quite similar to CNC. However, let’s dig into the quick review of the methods of how to utilize Zerodha Kite for MIS order.

Step #1: Open your Zerodha Kite mobile app and log in

Step #2: Open your watchlist

Step #3: From your watchlist, you can feel free to choose the desired stock, which you want to buy

Step #4: After you select a definite stock, its complete detail, including market offers, bid, quantity, and the number of orders along with the “purchase” and “sell” segment, will roll in

Step #5: Now, you need to fill out the stock quantity you choose to buy and tick the MIS box as you are performing an intraday trade

Step #6: Square-off your open position prior to the market closing time

Step #7: Choose your preferred order type from the options, like:

  • SL: Stop loss limit order
  • Market
  • SLM: Stop loss market order
  • Limit

You have to place the stop loss order utilizing Zerodha Kite.

Step #8: Choose the “market” option if you want to place a market order based on your order type. At this stage, you can’t alter the price of the order as it will be over as per the rate of the current market

Step #9: In case you pick your order type, “limit,” you may also set an order type as per your wish. Here, you need to ensure that if the limit rate is reached prior to the auto square off time, the order will be automatically executed

Step #10: Similarly, if you opt for “SLM,” you need to place a “trigger price.” After it hits its maximum potential, it will be squared off. On the other hand, choosing SL requires you to place your “stop-loss price.” 

Step #11: Making your order CO, BO, and AMO are also possible under the “variety segment.” These are regarded as the streamlined order types and optional.

CNC in Zerodha Kite

“Cash and Carry” in Zerodha is mainly utilized for top-notch delivery-based equity trading. Therefore, you can’t acquire any leverage, and your position can’t be auto squared off after utilizing the CNC product code of Zerodha. Moreover, it’s also impossible to sell stock using the CNC product code except for holding the definite stock in your Demat account. Therefore, it is mainly chosen by those traders who love to invest and not quickly sell off their shares. On the contrary, the significant stocks for the long-term investment are where a trader holds the stock for a long time before they sell. Another tip to remember is that if you ever mark your Zerodha buying or selling CNC order and exit the open position, it will look like an intraday trading.   

What are Zerodha CNC Charges?

Are you worried about what Zerodha charges will be? You shouldn’t worry here, as Zerodha will never impose a penny for placing delivery orders. All you need to provide your order details, opt for the “CNC” as the type of product. However, your order type should most probably be “market” as delivery trades are held for a long. Furthermore, your target is to invest in the share instead of limiting losses or making a profit on this matter.

How Can You Place Zerodha CNC Order?

Do you want to purchase stocks on Zerodha Kite mobile app? Follow the vital steps below to place a CNC order:

Step #1: Open your Zerodha Kite account by providing the necessary login credentials and pick a relevant stock from your watchlist, which you are willing to buy.

Step #2: Provide the stock quantity, which you intend to buy, and hit the “CNC” from the “product” section.

Step #3: The CNC stocks are anticipated for long-term investments, and therefore, you must choose “market” as your order type. This is because it is impossible to predict for a longer time span.

Step #4: In case you choose to place an SLM, limit, or SL order, the process of placing an order will be similar to the intraday one. In brief, the major difference is that such orders remain held like the intraday offers, which get squared off prior to the closing time of the share market.

[N.B: The order placement process for MIS and CNC in Zerodha is precisely the same.]

Difference between MIS and CNC

MISCNC
MIS stands for “Margin Intraday Square off”.CNC stands for “Cash n Carry”.
MIS is usually used for intraday trading with maximum leverage.CNC is mainly used in top-notch delivery-based equity.
All the MIS positions will be auto squared off at the day session ending time.There will never be any auto square off at the ending of the day session.

Conclusion

Pick your order type and perform the most innovative trading in an advanced way utilizing the Zerodha Kit mobile trading app effectively. Being the finest discount broker, you can reap the benefits like excellent funds security and assurance. Hopefully, this article provides crucial notions regarding this topic.

Happy trading!

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