Suppose I placed a SLMKT order on silver today and it does not executes then is there anyway to carry it for next day. Means I want order validity for more than one day.
This feature you are looking for is called a GTC order.
Currently not possible using Zerodha Trading Platforms.
To keep an order opened for more than a day, you require a GTC(Good till cancelled) or GTD(Good till date) order. Currently, order validity will all the Indian exchanges is only a day and all pending orders are cleared out by the end of the day. This happens because the exchanges clear their order cache memory at the end of the day, where all the pending orders are stored.
What certain brokers do is they mimic a GTC order by collecting all GTC pending orders after market closes and they place these orders again as an AMO(After market Order) which will be sent again to the exchange when the market opens at 9.15 the next day.
At Zerodha, we don’t have this feature yet. We will keep you posted when this feature is introduced.
If you are unable to place an order during market hours, then you can mimic the same AMO order acting as a GTC order and place it during off-market hours.