Difference in charges when intraday is done with MIS and CNC

What I understood from some articles is that if I don’t want any leverage for intraday then I can go for CNC or MIS. Are charges more if MIS is selected, when compared with CNC?

CNC orders are used for delivery based equity trades and MIS orders are for intraday trades in equity and F&O. Even if you use a CNC order to buy/sell shares during a trading day it will count as intraday.
Check this for more.

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No matter what you are using for trade (MIS or CNC), if you buy and sell the same product on the same day it will be count as an intra day trade and charges are as per intra day… happy trading :slight_smile:

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Just remember that for intra day STT is much lower than holding the stocks for more than 1 day

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Learnt that the following assumption I had earlier is wrong:
I guess we can’t sell a CNC stock on the same day, bcoz it takes a day or more for a CNC stock to come into our “Holding” a/c.

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You can sell stocks same day even if bought under CNC product type. If you do this your transaction will be considered as intraday transaction.

But if you choose MIS product type, you get the leverage and you communicate to RMS of zerodha that you intend to square off your position on intraday basis (Even if you don’t, RMS will square off automatically!)

On other hand if you choose CNC full margin required to buy shares are blocked and if you don’t opt to square off your position it will result in delivery of shares to your demat account.

So CNC can be used for intraday if you don’t want to take leveraged positions.

Hope this will clear some clouds.

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Oh, thanks for providing that info and correcting me.

If you buy and sell using CNC in a trading day then it should not be counted as intraday.

For intraday trade if you are selling then you need to have deliveries in your account which you wont have if you bought it on the same day. Hence if you were able to sell something on that day means you sold from your delivery stock and that is not intraday transaction.

Another angle to this one is when someone wants to buy as CNC then they need to have full amount of share worth in the account else they will not be buy CNC. Now how come this is intraday when you are not allowed to use margin and you have explicitly selected CNC.