MIS, CNC & NRML – Zerodha Product Types Explained

Welcome to this article that explains different Zerodha Product Types. Once you open the Kite account, before you place an order, you need to know the various options available to place an order in Zerodha. In this article, I will elaborate on the different products types available in Zerodha.

Zerodha Product Types

There are 3 product types available in Zerodha order. They are MIS, CNC and NRML. You will find these product types in zerodha when you place a buy or sell order that is shown in the image below. We will discuss each product in detail in the below sections.

Zerodha Product Types
NRML MIS & CNC Zerodha

What is MIS Order in Zerodha?

MIS stands for Margin Intraday Square Off. MIS order in Zerodha is used for intraday equity and F&O trades. If you trade (buy / sell) and square off before the end of the day, it is called intraday trading. You can leverage MIS orders to get additional margin. You can also use zerodha margin calculator tool to get stock-based margins.

Points to Remember:

  • All MIS positions will be auto-squared off 10 to 15 minutes before close of the markets. So ensure to close the positions manually.
  • MIS positions will be auto-squared off when losses exceed 50% of margin.
  • Auto-Square off rule can vary based on market conditions. 
  • Margins will be based on risk and volatility of the stock.

What is CNC Order in Zerodha?

CNC stands for Cash n Carry. CNC order in zerodha can be used for placing equity delivery orders. You won’t get any leverage in the CNC Order, so you need 100 per cent of the money to buy a stock. Similarly to sell stocks as CNC, stocks need to be available in your demat account.

Points to Remember:

  • CNC Orders can not be used to buy F&O (Futures & Options)
  • No margins will be provided for CNC orders.
  • To sell stock as CNC, you need to have that stock in your holdings.

What is NRML Order in Zerodha?

NRML stands for Normal Order. NRML orders are used to hold F&O (Futures & Options) till expiry provided you are maintaining exchange stipulated margins. NRML Order is only applicable to F&O. So, you can not find this option if you are buying/selling equity stocks. You can use Zerodha SPAN Calculator to know more about F&O margin requirements.

Hope this article on Zerodha Product Types helped you a lot. If you need any assistance please feel to drop comments in the below comments section. Happy Investing!


How to place MIS order in Zerodha?

When you place a buy/sell order, you will find a radio button MIS on top left corner. Select the radio button and continue with the order.

How to exit MIS order in Zerodha?

Navigate to Positions tab in Zerodha Kite. Select the stock and click Exit.

How to cancel MIS order in Zerodha?

Navigate to Orders tab in Zerodha Kite. Select the pending order and Click Cancel.

What is the margin I get for MIS Order in Zerodha?

Margins might vary depending on volatility and market conditions. Please use Zerodha Margin Calculator. https://zerodha.com/margin-calculator/Equity/

What is the margin for Futures & Options in Zerodha MIS Order?

Please refer Zerodha SPAN Calculator. https://zerodha.com/margin-calculator/SPAN/

How to place intraday orders in Zerodha?

MIS orders can be used to place intraday orders. While placing buy/sell orders select MIS radio button to place intraday orders.

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