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MIS stands for Margin Intraday square off. MIS is used for trading intraday in equity, futures and options, and commodities.
CNC stands for Cash and Carry, which is used for long-term buying and selling of equities.
MIS orders need to be squared off the same day before the square-off timings which are 3.20 pm for equity, and 3.25 pm for Futures and Options. If you don’t square off then Zerodha might charge you an auto-square off charge of 50 Rs +18% GST for squaring off your position.
CNC orders used for buying and selling same day are considered an Intraday trade and will be charged as per intraday basis.
Zerodha doesn’t provide any leverage if you trade in CNC but for MIS equity trades the leverage is provided by Zerodha up to 5 times.
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Zerodha Trade@20
