I am talking about options and using NRML as product type.
Why NRML is considered as an Intraday Product? In varsity I have read that MIS and NRML are intraday products, while CNC is for carryover for many days
MIS/NRML/CNC - These are all product codes specific to Zerodha or brokers who use Omnesys Technologies’ NEST trading platform.
These are used for convenience and to distinguish between an Intraday trade/Delivery Trade.
The Exchange does not classify NRML trades as overnight trades or CNC as delivery trades. If a Stock/Contract has been bought and sold on the same day, its an Intraday trade regardless of whether the product code you’ve used to make such trade is CNC/MIS/NRML.
As Karthik’s mentioned, the benefit of trading intraday using the product code MIS is you are entitled to receive leverage.
My bad - I guess I confused you with my answers. I have hidden it for the benefit of others.
Oh thanks Venu. I understand this part.
So in zerodha, NRML is exactly same as CNC but strictly used for F&O only. (while CNC is used for Equities)
CNC I can hold until any time I want, but NRML I can hold only upto expiry.
So could I say NRML as an carryover product (w.r.t zerodha linguistic terms)?
Yes, you are right.