Period to hold MIS

Zerodha
1

While buying stock we have to choose either CNS or MIS.
If I choose MIS then am I supposed to sell that stock compulsory on that day?
OR
can I keep it for the next few days or weeks?

2

If you want to take delivery of the stock it is advisable to buy using CNC type. All open MIS orders are auto squared-off by our RMS team at 3:20 pm* and you will be charged Rs. 50 (+GST) for that.

*Timings are subject to change according to volatility, you can keep track of timings here.

3

Thanks

4

Initiate a long trade at the close of P3 (around 3:20PM) after ensuring that P1, P2, and P3 together form a morning star.

My question is:
Then product type should be MIS or CNC?
If we place MIS then
All open MIS orders are auto squared-off by our RMS team at 3:20 pm* and you will be charged Rs. 50 (+GST) for that.

what should be the product type?

5

You can’t place MIS orders after 3:20 pm.

If you want to hold that position beyond that day opt for CNC.

1 Like
6

But then I won’t be able to sell it on another day?
right?

Then after T + 2 days I can sell it?

7

There’s nothing like that. You can sell the stock you bought today, the next day as well.

8

Hey @ShubhS9 thanks for your help.

But I didn’t understand. If I buy a share today then it takes T + 2 days to hit my DEMAT account and if I tried to sell it before that then it will be violation of rules by SEC.

Then how is it possible?

9

If you Buy today and Sell tomorrow it is called BTST and people do it all the time.

To further ease your doubts, check out this post.