MIS Order means Margin Intraday Square Off Orders. So in simple term, you buy shares/ index/ F&O/Currency and sell them on the same trading day. If traders want to exit the script on the same trading day, they need to choose order type as MIS. When you select order type as MIS, you can square off the trade by yourself or trade will get auto square off by RMS team a few minutes before market close. MIS Orders can be converted into delivery or carry forward trades if 100% margin is available. With MIS orders, all brokers give you a higher margin, so you can buy more shares compared to delivery trades.
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