Comment on Intraday stock trader par excellence
commented on
19 Sep 2013, 04:15 AM
MIS stands for: Margin intraday square off, when you mention the product type as MIS while placing your order:
1. For equity, you can both buy and short based on if you are bullish or bearish. Since MIS is only good for intraday we give give you upto 10 times margin. So if you have 1lk in your account, you can buy upto 10lks, but all MIS positions get squared off at 3.20pm.
2. Similarly when you mention MIS while trading futures, you will need only 40% of the overnight margins, again will get squared off at 3.20pm. This blog explains everything on product types.