Algo Trading - MIS

In case of algo trading how do we place the MIS order ?
For Example : If I have a balance of INR 1 Lac in my demat account and I want to place an order for stock ZZ which is trading @ INR100 per share and has a margin of 10X. If I place an order of 100 shares of ZZ over MIS, ideally the amount deducted from the principal amount should be INR 10,000 and I can buy stocks worth INR 1 Lac (100 shares @ INR 100 with 10X margin). The balance in my demat should be INR 90,000 post the transation, which can now be utilized for another transaction.

Please let me know , if the above understanding is correct for algo trading . Also, if should ensure some other factors while the system is placing the order?