If you are also the Zerodha user and want to learn more about placing the intraday orders in Zerodha.
Let us learn more about on “How to do Intraday in Zerodha?”
If you had also choose the offine brokers and now turned into signing with the online discount brokers and choose one of the well-known broking site that is Zerodha.
Then, you might also find it difficult to place the orders in the first time, as there are many terms that you are not familiar with.
Am I Right?
Not an issue with as I will explain all the terms here.
So, that you could found it easy to understand and also for placing the Intraday orders in Zerodha.
Do you know about the Intraday Trading?
Intraday Trading defines about the trading that happens within the same day as in you take the position when the stock market opens and the positions are squared off when the stock market closes down.
So, if you choose the Zerodha as your broker, then you might need to understand the terminology that will help in to do the intraday trading in Zerodha.
Let us continue with deep readings on the same.
Zerodha Intraday Trading can be done in 2 ways:
The one who has the Zerodha account can opt for this offline intraday trading method.
For this, a particular trader needs to call at the Zerodha with the registered mobile number with Zerodha.
Then he can make a request for the trade desk and can place the trade using the mobile number which was previously known as the Zerodha ZPin.
This mobile code is useful for the purpose of authentication of one’s identity and this will makes the process faster and easier for reaching to the customer support representative.
When any trader calls with their registered mobile number, then required to enter the code in the IVR to reach the support representative.
This telephone code can be seen by logging into the Zerodha Console and by viewing the profile screen.
Zerodha Intraday Trading can be done through any of the trading mediums which includes the web application Zerodha Kite that will work on the computer.
Once the trader has their trading account with Zerodha, then he can make the easy transactions in intraday trading.
Let us understand some of the terms of the intraday orders.
Zerodha Intraday Orders
MIS stands for Marginal Intraday Square Off.
This type of orders are placed by the traders for the Intraday trading using the leverage.
The range for the leverage is given between 3 to 14 times that is according to the risk and the volatility of the stocks.
If one does not square off its positions, then the Zerodha square off the positions automatically at 3:20 PM.
CNC states for Cash and Carry.
This order can be placed for more than 1 day and it is not for intraday trading.
III. Market Order
This order is placed for buying or selling shares at the current market price.
IV. Limit Order
In this type of order, it is used for buying or selling shares at a specific price or even more better.
V. SL Order
This type of order is used for placing the Stop loss at a limit price.
You need to punch the trigger price, as soon as the trigger price hits, the stop loss order is sent to the exchange at the limit price.
VI. SL – M Order
This states for Stop Loss Order at Market Price.
This is also like the stop loss order, the difference is that in SL – M order the price is selected at current market price.
In this also the same procedure of trigger price follows.
VII. Bracket Order
Bracket Order is the full form for B.O.
In this, one need to place the order for either a buy or sell of the shares at the limit order with a target price.
BO order helps to get more leverage than the MIS Order.
Bo orders need to be squared off by the end of the day at around 3:20 PM.
For all the equity and futures and options, it need to square off the positions at 4:30 PM for the Zerodha Currency Trading.
VIII. Cover Order
CO is for the Cover Order.
This is similar with the bracket order, it is also used to get higher leverage than the MIS trade.
In this order also, there is a need to specify with the stop loss and the buying or selling of the stock are done with the basis of market order.
In the leverage range from 6 to 20 times.
IX. Disclosed Quantity
This option is for to disclose a part of the actual order of the number of shares placed for buying or selling of the stocks.
Zerodha Intraday Trading Charges
Let us see the various type of charges levied in the intraday trading with the charges.
|Brokerage||0.01% or 20/Trade whichever is lower|
|STT||0.025% on the sell side|
|Transaction Charges||NSE: 0.00325% | BSE: 0.00275% |MCX-SX: 0.002%|
|Service Tax||15% on the (Brokerage + Transaction Charge)|
|GST||18% of Brokerage +Transaction Charge|
|SEBI Charges||Rs 15/ Crore|
|Stamp Charges*||This depends from states to states|
Stamp Charges are decided by the State Government, that’s why it will be differ from states to states.
Zerodha Intraday Trading Timing:
Let us see the timings for the intraday trading that is fixed by the Zerodha.
All the transactions or positions starts when the market opens in the morning.
If you have open Intraday MIS| BO |CO positions and not square off at the closing time then, it will automatically closed down at 3:20 PM.
And if due to some reons the positions are not square off automatically also then, it get converts into the CNC position.
This was all about the Intraday Trading timings with different positions.
Zerodha Intraday Margin:
Trading in the futures has some leveraged to offer.
This means with small amount of money can help to do the intraday trading and this is state as the “Margin”.
The margin calculator provided by the Zerodha gives the complete information about the margin details during the future trading.
After learning all about the orders and the positions and also about the charges of the Zerodha, now one can easily do the intraday trading with the help of this. Hope that you liked our blog on “How to do Intraday in Zerodha?” Trading Fuel is our blog site that presents different topics on the stock market with some unique and interesting patterns that will amaze the readers to read more about. If you liked our blogs then, you can further also share the blogs with your mates and read more. Till then, Happy Learning.