Buy and Sell in zerodha Kite

[Rakesh_G]

Buy and Sell

Hi All,

I am a newbie in Day Trading,

I have some few basic doubts, need clarification on the below,

A Regular mode, we are having four order types (MIS - MKT, LMT, SL, SL -M).

Kindly let me know the process of buying and selling,

1. Regular - MIS - MKT - As per my understandings, I have bought a order in an Regular mode (MIS - MKT), so buy is applied and once I achieved my profit. I need to sell the same order, which I bought earlier.

• is this correct?

2. Regular - MIS - SLM- As per my understandings, I have purchased a order in Regular mode (MIS - SLM), so buy is applied with the Trigger Price and once I achieved my profit. Do I need to put a sell order seperately as above, as we placed the SLM order and the trigger price is been initiated while buying in the buy order, will it automatically sell the order or need to put a seperate sell order with the SLM like Buy Order SLM.

• Need clarification?

[Sanket]

@Rakesh_G

Regular - MIS - MKT - As per my understandings, I have bought a order in an Regular mode (MIS - MKT), so buy is applied and once I achieved my profit. I need to sell the same order, which I bought earlier.

All this has been explained here - Kite User Manual and here
What are the various order types and their validities? - #2 by Bhuvan

[Srinivas]

@Rakesh_G

Regular - MIS - MKT - As per my understandings, I have bought a order in an Regular mode (MIS - MKT), so buy is applied and once I achieved my profit. I need to sell the same order, which I bought earlier.

is this correct?

Yes, if you buy it in MIS, then you have to sell the position in MIS only and the position will be closed. MIS is margin intraday square off, meaning it is a margin trade with the validity of one day only. All open MIS orders will be squared off at 3.20pm by the admin system.

@Rakesh_G

Regular - MIS - SLM- As per my understandings, I have purchased a order in Regular mode (MIS - SLM), so buy is applied with the Trigger Price and once I achieved my profit. Do I need to put a sell order seperately as above, as we placed the SLM order and the trigger price is been initiated while buying in the buy order, will it automatically sell the order or need to put a seperate sell order with the SLM like Buy Order SLM.

Need clarification?

While placing MIS orders, you have to place 3 separate orders. One MIS order for entry, one MIS order for target and one MIS order for stoploss. MIS Buy SLM orders are used to buy only above CMP price. If you want to buy below CMP then use a MIS buy limit order. Once the entry order is executed, you have to place a separate MIS sell limit order as a target order for this.