Comment on Orders - Place, Modify, Cancel & View

Nithin Kamath commented on 04 Jan 2014, 01:58 PM

MIS is for trading intraday only, if you take a trade and don’t exit, it will automatically get exited before market closing.

CNC is if you want to trade equity delivery based.
NRML is if you want to buy and trade overnight or intraday for futures and options.

1. Yes your understanding is right, CNC for equity and NRML for futures and options.
2. as mentioned above
3. Yes you can convert position, my guess is that you trade futures and options, in this case you can convert from MIS to NRML. See this blog on position conversion

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