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Order types

CNC orders-

The above orders can be placed ONLY in the cash segment of the equities market and are usually executed by investors, either looking to receive delivery or to offload stocks

Features-
- CNC orders will be executed only if the account is sufficiently funded
- No leverage offered on CNC orders
- Stocks purchased are transferred to your de-mat account
- Sell CNC orders will debit stocks from your de-mat account

Trading platforms that accept CNC orders-
NOW
Nest

NRML Orders-

Highlighted as NRML in the BUY/ SELL window on your NOW and Nest trading terminals. NRML orders can be placed ONLY in the derivatives segment on all the Indian equities, commodities and currencies exchanges. These orders call for higher margins, in comparison to most other forms of orders available and are the only type of orders where trades need not have to be closed out during the current session

Features-
- Placing market, limit and stop loss orders
- Exiting trades during the current session
- Holding positions overnight
- 100% of span + exposure margin charged by the exchange

Trading platforms that accept NRML orders-
NOW
Nest
Symphony Presto

After Market (AMO) orders-

AMO is a facility given to clients to place orders in equities after market trading hours, i.e after 3.30 PM. These orders should be placed within the price band permitted by the Exchange, from the days closing price and are released to the Exchange on market open the following day, after completing the requisite RMS and compliance checks

Features-
- AMO orders can be initiated anytime between 5.45 PM- 8.30 AM, the following day
- These orders can be placed on the cash and F&O segment of BSE and NSE
- AMO orders can be placed either to initiate or exit trades
- Option to cancel and modify AMO orders permitted
- AMO orders will be accepted ONLY if sufficient margins are available
- Order response to confirm that the AMO order has been collected

Trading platforms that accept AMO orders-
NOW
Nest

MIS orders-

These orders are mostly for day traders, looking at intra- day volatility to swiftly enter and exit trades. MIS orders can be placed in the cash and derivatives segment on all the Indian equities, commodities and currencies exchanges and are auto- squared off at 3.20 PM

Features-
- Placing market, limit and stop loss orders
- Trades compulsorily closed out during the current session
- Calls for lower margins, compared to NRML orders
- 33.33% of span + exposure margin charged by the exchange

Trading platforms that accept MIS orders-
NOW
Nest

Stop loss (SL) orders-

SL or SL- limit orders are placed to either exit a existing position or to initiate a new trade. SL orders for a long (buy) trades should be placed above the current market price with the trigger price sandwiched between the market and limit price, while SL orders for a short (sell) trades are placed below the current market price with the trigger again sandwiched between the market and limit price
On the flip side, in fast moving markets, these orders may not get filled if the the gap between the trigger and limit prices are very small

Features-
- SL orders comprise of a trigger and a limit price
- Order execution takes place anywhere between the trigger and limit price
- Volatility plays a key role in the orders being filled

Trading platforms that accept SL orders-
NOW
Nest
Symphony Presto

Stop loss market (SL-M) orders-

A SL-M order is similar to a stop loss (SL) order, except that the market price is taken as the underlying order type, instead of a limit price. Adversely, SL-M orders can be filled quite away from the trigger price when placed on illiquid stocks and during times of extreme volatility

Features-
- A SL-M initiates trades at the market
- Only the trigger price is required to be input
- The orders are mostly triggered, unlike SL orders, where volatility plays a key role
- Best traded on highly liquid instruments

Trading platforms that accept SL-M orders-
NOW
Nest
Symphony Presto

Cover orders-

A cover order comprises of a combination of a market order and a stop loss order. The two orders that represent a cover order are placed simultaneously to guard from adverse market conditions

Advantages-
- Pre- determined stops, thereby reducing the risk to one's portfolio
- Risks suitably covered, thus prompting lower margins compared to MIS orders
- Modifying the percentage of stops to be employed
- Compulsorily squaring off trades by the end of day; reducing risk of holding overnight positions
- 28 times exposure on CNX 200 scrips
- Available in cash and derivatives segments- Equities and currencies

Looking to place cover orders!! Follow the instructions below
Buy cover order- Alt+F1
Sell cover order- Alt+F2

Trading platforms that accept cover orders-
NOW
Nest

Bracket orders-

Are special orders comprising of an entry, exit and stop loss, all clubbed on a single window. Once the entry price is triggered, it behaves like a conditional order, similar to One Cancels the Other (OCO)

Advantages-
- Manage risk efficiently
- Pre-determine profits even before an entry order can be filled
- Supports trailing stops on existing trades
- Available in cash and derivatives segments- Equities and currencies
- All open trades compulsorily closed out by the end of day
- Single window to place multiple orders at one go, thereby saving time

Trading platforms that accept bracket orders-
Symphony Presto