Hi All, I generally don’t place any MIS order and not have any understanding of F&O etc. Today somehow I mistakenly placed a MIS order while trying to sell a CNC order.
It is showing under position tab of zerodha like this
MIS STOCK_NAME. -450 (quantity) 1078(avg) 1078(ltp). 0.00 (p&L).
Could you please suggest how to cancel it ? the stock got upper circuit. I don’t want to loose any money. Kindly help. Any suggestion is much appreciated.
If you intended to place CNC order, does it mean you have the stock already in your account?
You said - 450 and that you intended to sell normally, so I am assuming you have 450 units in your demat account already.
If it stays in upper circuit till market close, Zerodha will take all 450 units from your demat account and deliver it to the person who bought 450 from you.
If price falls from upper circuit before market close, you can manually click convert to CNC order, or buy 450 units in MIS order. Or else Zerodha will do it automatically (only if price below lower circuit) and will charge you auto square off charges of approx 50
In Positions page, do you see an option “Convert” in the menu for that stock?
You can covert your position from MIS to CNC in such a case.