ZT-Position Conversion

December 13, 2012


We have introduced newer platforms since this post was published. Check out this user manual for Kite and Kite explainer videos here.

Before we go ahead with this topic, please read this blog on Margin Policy.

In brief, at Zerodha we give you margin/leverage for your Intraday trades, but to get this benefit you have to specify that it is an Intraday trade by selecting the right product type while placing an order.

  • While trading stocks for Intraday, if you need 3 to 10 times margin, you need to use Product type as MIS (Margin Intraday Square off), when you select this product type, even if you forget to square off all your positions will be closed at 3.20pm.

While trading stocks if you don’t need margin/leverage, use the product type as CNC. So to buy Rs 100 worth of stocks you will need the entire Rs 100.

  • While trading Futures or writing Options: For Stock/Index Derivatives, we ask for 40% of Exchange stipulated margin for Intraday trading, to understand go to the other blog mentioned above. But you have to use the product type as MIS while placing orders, again the square off time will be 3.20pm. If you don’t need the leverage use the product type as NRML.
  • For trading Commodities: For Intraday trading we ask for 40% of MCX stipulated margins and you have to use product type as MIS. You can hold this position until 25 minutes before closing of the markets in the night, when all MIS position get squared off. To keep a position overnight, use the product type as NRML, but you will need the complete exchange stipulated margins.

There are 2 scenarios that might happen when you use different product types, and this blog will focus on it:

Scenario 1: You have bought for intraday using the product type as MIS , but now you want to keep it to the next day, how do you do it?

Scenario 2: You are holding a position from previous day using product type as NRML, but today you need more margins to do intraday trading, how do you do it?

Scenario 1: You have bought for intraday using the product type as MIS , but now you want to keep it to the next day, how do you do it?

To keep a position overnight, you will have to convert the MIS position to CNC (for Equity) and NRML (Derivatives-Equity and Commodity). For this conversion, you will need 100% of the margins, so first ensure that there is enough funds. If you don’t have sufficient funds to convert all your positions, square off a little and then try. Also see that you have cancelled any pending orders, because even the pending orders will be blocking margins. To convert from MIS to NRML you have 2 options as shown below:

Option1: Using Trade Book (F8)

Option 2: Using Admin Positions(F11)

Scenario 2: You are holding a position from previous day using product type as NRML, but today you need more margins to do intraday trading, how do you do it?

As an example, you have bought Nifty futures yesterday and because you are carrying it overnight, it will be showing under the product type as NRML. As an NRML product type, it will be blocking Rs 25000(complete overnight margin as per SPAN). As MIS, it would block only Rs 10000, so what if you want to convert from NRML to MIS to get Rs 15000 free margin to take other positions? How do you convert it? How do you convert multiple such positions?

So, if you are holding overnight position and want extra margins, convert them to MIS and if you want to carry them overnight again convert back to NRML as mentioned above. Do post queries if you have any.

Happy Trading,


Your friendly neighborhood discount brokerage


  1. Padma Vasudevan says:

    Tried on 11/1/2013 to convert lead mini MIS to NRML around 9 pm but couldn’t.After clicking convert a new window came net qty is zero clicked ok but nothing happened.Tried from both admin and orders.Tried three times or so.Later closed position in loss.Why conversion didn’t take place

  2. Padma Vasudevan says:

    Had margin of 15k plus and no pending trade nor holding any other position at that time.Margin for NRML lead mini is about 6k.only lead mini in market watch so no mistake about big lead also.You could have checked trade details at your end before replying.Sent mail also

  3. Banti says:

    I want to know @ following querries
    Scenario 1: I am having Rs 5000 in A/c I have bought 10 Lots of Nifty options @ premium Rs10 at 9:20am & sold it @Rs 12 @10:15am whether Profit of Rs 1000 can be used for next trade? it means can i make trade with Rs6000 or with Rs 5000 only?
    Scenario 2: I am having Rs 5000 in A/c I have bought 10 Lots of Nifty options @ premium Rs10 at 9:20am & sold it @Rs 7 @10:15am whether loss of Rs 1500 what will be the fund available for next trade is it (5000-1500=3500) or 5000 can be used for next trade?

    • Nithin Kamath says:

      Hi Banti, This is how it works:
      Scenario 1, You made a profit of Rs 1000, your margin will show as Rs 6000, so you can take another option position for Rs 6000. There is a small issue though, if you keep this option position overnight, Rs 5000 was your cash balance and Rs 1000 is unrealized credit which will be credited by NSE to your account only next day morning. According to NSE margin reporting rules, we will report that Rs 5000 is your cash and Rs 1000 is unrealized profit and because Rs 1000 is unrealized NSE will charge you a short margin penalty for this additional Rs 1000(usually around 1% of the short amount, so Rs 10 in this case). As I said,the above issue will happen if you keep it overnight, no such issues if you close your trades during the day.

      2. Scenario 2: When you make a loss, the money gets debited instantly, so if you make a loss of Rs 1500, your next trade can’t be for more than Rs 3500..


  4. Rocky says:

    Under what circumstances do you cut off positions for intraday as well as positional. I trade in commodities – mostly intraday, but at times I hold overnight positions.
    Secondly what time do you cut off an intraday position (MIS) & an overnight position (NRML)

  5. kinjhoh says:

    Can I Convert Cover order(CO) positions to MIS or NRML Positions??

  6. kinjhoh says:

    But one of my friend told me that by using zerodha Web we can change the product type from CO to MIS or NRMl vice versa…

  7. roguetrader says:

    Is this position conversion available only on Zerodha Trader Desktop platform? Can I do it on Zerodha Web platform or more importantly on Zerodha Trader Mobile Platform?

  8. Hushaam says:

    Dear Mr. Nithin Kamath,

    Thank-you very much for making this informative blog. Just need a small clarification, while converting an MIS trade into CNC (by ensuring 100% funds into the A/c.) as explained in scenario 1. In the position conversion box, under the product type, should I choose MIS or CNC ? Please clarify at your earliest convenience to enable me to make use of the position conversion feature (MIS to CNC) effectively.

  9. alekhya Ghosh says:

    Hi I have overnight position of 100 Nifty Fut Feb plus and have margin of 45000 , now today I want to sell March Nifty Fut 100 as NRML — how do I do that ?

    • Alekhya, you can add the march nifty future to your marketwatch and sell/short it, such a position where you are long one month and short the other is called a calendar spread. Since the risk is very less the margin blocked for calendar spreads are very less, so you will be able to short 2 march nifty futures without any extra margin. Hopefully this clarifies.

  10. Rajesh Pai says:

    Dear Nithin, What is NRML order, Please explain.

    • Rajesh,

      When trading F&O, Currency, or Commodity, if you want to buy/sell contracts with an intention to hold it overnight or trade intraday, you can use the product NRML in the order window. If you use the product MIS, you will be able to take the same position with lesser margin requirements, but the thing with MIS is that all such positions has to be squared off before close of the markets. So MIS is a purely intraday prodcut, whereas NRML can be used for both intraday and Overnight.


  11. Danny says:

    Can i convert the CNC position i hold over night to MIS the next day to get leverage.

  12. Gyanendra kumar says:

    Position converstion is not working in ZT WEB

  13. Sourindra Manna says:

    Sir I Want to know about what is square off & what is call,put in option trade &. please let me explain. i am a new trader.

  14. DS1800 says:

    i updated my nest trading software 3.11 but unable to add new scrips to market watch and unable to dialog box

    to see nifty index or other indices.. do help. in previous version all was fine….

  15. Shashi says:


    Are there any additional charges for position conversion?

  16. samit says:

    Sir, If i close a trade in profit, does the profit adds to my initial capital immediately or I will have to wait till next day ??

  17. samit says:

    Thanks for prompt reply..

    • DK0839 says:


      To the query of overnight CNC to MIS and back next day you have answered yes. But this position is seen in T1 holdings. There is no link that allows us to do this. Can you explain how this can be done?


      • ahh.. right.. my bad.. yes overnight CNC can’t be converted to MIS. But if you buy intraday using CNC, it can be converted to MIS and vice versa.

        • Ghansham Hardasani says:

          Sir , you replied that T1 holding can not be done CNS TO MIS and vice versa
          I understand that “T1” means
          It is already executed order
          Am I right Sir?
          DK0839 says:
          July 8, 2014 at 11:36 am

          To the query of overnight CNC to MIS and back next day you have answered yes. But this position is seen in T1 holdings.

  18. rajas says:

    i am unable to convert my L&T nrml position to MIS position error coming as ErrorRMS:Bad Input.what is the reason.

  19. anand deshmukh says:

    i purchased as cnc from nse and sold as mis in bse on same day will i have penalty

    • No Anand,

      The share you purchased as CNC will be credited to your demat, what you sold as MIS on BSE would have gotten bought back at 3.20pm on that day itself. Do check your tradebook for that day.

  20. Suriyakumar Jayabal says:

    Hi Nithin,

    1. In position conversion, I understand I can convert MIS to CNC only if I have bought the shares (Buy Orders).
    I cannot convert MIS to CNC if I have shorted (initially executed a Sell Order in MIS and I am thinking of buying it in later part of the day).
    Please correct me if I am wrong.

    2. If I convert from MIS to CNC successfully, then the brokerage applicable will be as if I have bought the shares as CNC and no brokerage related to the initial MIS order will be applied. Correct me if I am wrong.
    Also, as u have said in comments, there is no specific position conversion related charges from Zerodha.

    • 1. You can convert MIS to CNC also if you have shorted provided you have stocks in your demat account, otherwise no.
      2. Yes
      3. Yes no charges for position conversion

      • Suriyakumar Jayabal says:

        Could you please explain the first part a bit more?

        Scenario1: I have shorted 1000 shares of XYZ, today morning and dont have any of XYZ shares in my Demat account. Since the price is not favorable, (risen up) I would like to convert MIS to CNC. Is this possible?

        Scenario2:Last month I have purchased 1000 shares of XYZ as CNC and it is there in my Demat account. But today morning I have shorted 1000 shares of XYZ as MIS and would like to convert these to CNC. Please explain what will happen now.

        Scenario3: Last month I have purchased 500 shares of XYZ as CNC and it is there in my Demat account. But today morning I have shorted 1000 shares of XYZ as MIS and would like to convert these to CNC. Please explain what will happen now.

        • 1. No
          2. Yes
          3. You will be able to convert only 500 shares.

          • Suriyakumar Jayabal says:

            You mean it will be considered as if I have sold the shares what I held in my demat account, the buy price being the one in which I purchased last month and the sell price would be the one with which I have shorted MIS today morning. Now I am clear.

            If I can only convert 500 shares the remaining 500 will be squared off automatically by 3:20 pm. In this case I will incur charges for CNC 500 shares and MIS 500 shares as brokerage and taxes in the contract note of that day. Am I right?

            Thanks for you quick answer.

  21. RK0885 says:

    Hi there,
    Please clarify this question for a novice trader.
    Say for example, I bought ZYX shares as CNC today morning aiming to achieve a certain target by the end of the week. But due to some reason, the stock reached the target today itself and now I wish to sell it off. In this case do I sell it as CNC or MIS?

  22. Janardhanan says:

    can i convert Future share’s ( holding from sept to oct ) ?

  23. Elam says:

    I would like to understand whether it’s possible via Zerodha?
    I have bought 1000 share of xyz company today as CNC (Equity trading, not derivatives).
    1. Can I able to sell it on same day ?
    2. Can I able to sell it on T+1?
    3. Can I able to see it on T+2?

    Reason I am asking this question is ICICI direct will not allow selling the share (Cash position trade) on T+2 day as the share allocation is in progress. But this is really a drawback. I would like to know how Zerodha behaves in this situation?

  24. rkkutty says:

    I would like to understand whether it’s possible via Zerodha?
    can I trade any scrip of NSE under MIS order

  25. nagesh says:

    Dear Mr.Kamath,
    Happy Diwali in advance, sir w.r.t “position conversion”, i’ve understood and need little update and correction from you.
    For “position conversion” from intraday to delivery i.e. MIS to CNC., We need Sufficient Fund. This i understood.
    i put u one scenario, please help me out.

    Scenario 1: I “SHORT SELL” UBI Stock @ 200, Product Type: MIS, i failed to buy back!!
    My question to you is :
    a) Is it possible to convert “MIS” to “CNC” ? Please note i’ve done “SHORT SELL”..
    If i could convert this, How to convert ? please provide me stepwise advice.
    b) At what time , “MIS to CNC” position converstion should be done ?? Tell me Terms & Conditions.

    Scenario 2: I “BUY” PNB Stock @ 900, Product Type: MIS, I failed to sell. I want to convert ‘MIS’ to ‘CNC’.
    a) Show me stepwise procedure in zerodha trading software.

    Scenario 3: I “BUY” Ranbaxy Stock @ 600, Product Type: CNC.
    a) I want to convert “CNC” to “MIS”, Please tell me how to convert this ?? Show me stepwise procedure in zerodha trading software!

    Thanks in advance,

    • 1 a. You can convert from MIS to CNC only if you have 200 shares of UBI stock in your demat account with us, otherwise No.
      b. Before 3.20pm everyday.

      2 a. Yes you can convert, but you need to have full money to buy the 600 shares of Ranbaxy and also a demat account mapped to your trading accoun.
      b. Once stock is already bought and in your demat account, you can cannot convert that. You will have to sell it and buy it back before end of day.

      Stepwise is as shown in the blogpost above. It is the same way if you are trading F&O or Equity.

  26. nagesh says:

    Hi Sir,
    I left out my last doubt:-

    Scenario : I “BUY” Ranbaxy Stock @ 600, Quantity- 10, Product Type: CNC. Fund Available: 9000 rs.

    a) I want to convert “CNC” to “MIS”, Please tell me how to convert
    this ?? Show me stepwise procedure in zerodha trading software!

    b) While converting “CNC” to “MIS”., intraday exposure in zerodha margin calculator, say assume 9x for Ranbaxy Stock, i.e. 9*10= 90.
    Sir, I can only sell “10” Quantity right ?
    If i sell reamaining “80” Quantity, then it will become short sell ! Correct ?

    c) Once postion converstion done from “CNC ” to “MIS”, If i failed to sell during intraday, Is it possible to convert “MIS” to “CNC” Again ??? Please answer all of my questions..

    Thanks and regards,

    • a. If you bought it today as CNC and you want to convert, you can use the tradebook or admin position window as shown in the above post.
      b. While converting from CNC to MIS, it will let you convert only to the extent of shares you hold in CNC and nothing more. So if you convert 10 shares of Ranbaxy to MIS, only 10 shares get converted.
      c. Yes you can convert it back before 3.20pm.

  27. nagesh says:

    Dear Sir,
    sorry left out last point on my previous comment,

    Dear Zerodha,
    Thank you so much solving trading related queries. I need much
    clarification for the below scenario. Please advice on this.
    vijaya bank stock

    BROUGHT @ 100 rs


    EXPOSURE = 9X = 9*10 = 90

    QUANTITY = 90

    FUND REQUIRED FOR MIS = 10*100 = 1000 rs.

    A)9000 rs
    B)1000 rs

    Last point,

    a) 90 Quantity
    b)10 Quantity

    Please answer my above question.
    Thanks in advance,

  28. Vivek says:

    Can i buy F&O using MIS and convert it to NRML by EOD?

  29. Ved says:

    Can i square off a CNC order ?
    My main query is if i want to avoid the auto square off at 3.20 on an MIS order and have sufficient margin can i
    1 . Convert a buy MIS order to CNC
    2 . Sell the same position in CNC before 3.30 ?
    Will i be charged delivery or intra day brokerage?

  30. vaibhav says:

    Sir I would like to know about mission
    If I have 10 quantity of wipro stock
    Buy price :500
    Total amount: 50k
    So do I get 100 quantity of wipro stock if exposure is 10 and total amount will become 5 lakhs?
    Another question
    How much should I have for mis 50k or 5 lakhs

    • Little confused. If you want to buy Rs 50k worth of wipro stocks for intraday (using MIS), you will need only around Rs 5000 in your acccount (if 10 times leverage or 10% margin). Similarly, if you want to buy 5lks worth of stocks, you will need Rs 50,000.

  31. j karthikeyan says:

    Dear Nithin sir,

    My Zerodha Id is DK1097 and i need one clarification regarding Position conversion pls help me sir. For “position conversion” from intraday to delivery i.e. MIS to CNC., We need Sufficient Fund. This i understood.
    i put u one scenario, please help me out sir.

    Scenario: I “SHORT SELL” SBI, 200 qty at the rate of Rs.300 per stock (Intraday) , Product Type: MIS, i failed to buy back!! within 15.20hrs because the price is not favouring and i planned to convert the 200 qty as CNC.
    and i already had some SBI stocks of about 200 Qty(CNC) in my demat account, that i purchased before 1 month back at the rate of Rs.280 per stock, My question to you is : After position conversion what’s the change in the price of the stock after converting the MIS 200 qty as CNC.( that is after conversion the price of the MIS to CNC converted stocks is changed as Rs.300 or Rs.280 or CMP rate at the time of conversion ) Pls clarify me sir.

    • Karthik, if you convert the short SBI to CNC, it will be as good as you selling your delivery holdings that you had bought at Rs 300. What time you convert and the price at that time won’t really matter.

  32. samit says:

    In case of scenario 2, I am not able to find Position conversion Tab/Switch on my Desktop.
    AM I missing something??

  33. jawaharraj says:

    Hi nithin,
    Happy new year nithin, i’m new trader, I need some clarification in MIS and After market Order, please clarify,

    1. How to manually close MIS position before auto square off @ 3:20?,

    example: i bought xyz stock in MIS type @10am and @ 12 Pm target price achieved, i would like to close my position at that time, how to do it, please provide step by step procedure in web?

    2. Is it possible to buy share in Pre-Market (between 9-9:15)@ web platform, is it possible to execute AMO order in pre-market time, since AMO execute only after 9:15?, it will be very help full if u provide details in step by step.

    Many thanks for your time

    • 1. The same way you bought using MIS, you simply place a selling order with product type as MIS, anytime before 3.20pm. You can also go to the link positions/admin positions, and square off your positions from there directly.

      2. You can place orders in pre-market, check this post. AMO orders are sent to the market only after market opening, so no it is not possible for that to be sent in Premarket.

  34. samit says:

    I am not able to find Position conversion Tab/Switch on my Desktop terminal.
    AM I missing something?? What should I Do??

    • Hanan says:

      What’s the version of Zerodha Trader you’re using. Ensure you’re on 3.11.2 so you can view the Position Conversion tab. It’ll be visible on the Admin Positions window when you use F11.

  35. SUDHANSU says:

    Hello Nitin Sir
    I wish to know margin requirement for selling TATAMOTORS MARCH expary with strike price of 600.
    I am not able to get it from Zerodha span calculator.


  36. sri says:

    hi sir….about normal position method..ex..i buyed crude at 3088 and last closing 3098 i kept overnight…i get profit of 10pts? and next day what will my buy rate starts?

    • Sri, futures trading has what is called MTM, so the profit of Rs 1000 ( 3098-3088 x 1000)will be credited to your trading account, and for the next day the buy price is taken as 3098.

  37. Arun says:

    Hi Nitin,
    I’ve a question.

    I short sold few stocks in MIS trading. I had the same quantity of the shares in my demat account. Hence I modified the MIS to CNC in the position conversion.

    Now my question is, what is the price that the stock got sold and adjusted with my short sell?

    a. I bought the shares @ around Rs. 65
    b. I short sell the shares @ around Rs. 105
    c. The closing price of the share was around Rs. 110
    d. Approx price at the time when I converted MIS to CNC was Rs. 108

    Please let me know how the sell price of my existing shares are calculated in this case.

    Thanks in advance,
    – Arun.

    • Arun, the sell price will still be 105 itself. You converting MIS to CNC, will not lead to any difference in your traded price. Even if the stock had gone to 100, if you had sold as MIS and converted to CNC, the price for you would still have been 105.

      • akki says:

        Hi Nithin,

        while converting sell MIS to CNC if we wish to change the traded price with cmp,is there any way?

        what if i convert from NSE to BSE ,Sell done earlier in NSE is still valid in BSE?

        Please clarify.


        • Venu says:

          Once a trade has been executed, you can’t change the price.

          Conversion from one Exchange to another isn’t possible.

          • akki says:

            Thanks venu for information

            • akki says:

              Hi Nithin/Venu,

              One more question:

              CMP of nifty is 7555

              In options we put 7055 and call 7955

              IF put7055 I sell at 5 Rs and call 7955 I sell at 6 Rs

              By month end i have 3 cases

              1)Nifty stays near to 7555

              here what will be my put and call situation ( i sold both of them earlier at 5 and 6 Rs)
              how which it will be become in this situation? loss or gain

              2)Nifty go to near to 7055 or go more down below 7055

              here what will be my put and call situation ( i sold both of them earlier at 5 and 6 Rs)
              how which it will be become in this situation? loss or gain

              3)Nifty go near to 7955 or move up above 7955

              here what will be my put and call situation ( i sold both of them earlier at 5 and 6 Rs)
              how which it will be become in this situation? loss or gain


  38. Arun says:

    Thanks Nithin for the quick and clear explanation :).

  39. joshva says:

    i brought suzlon in cnc at 28.45, today i want it to sell by 29, but while placing order i got this rejected msg like check ur holdings… if i brought any product on cnc how many days i have to wait to sell it back

  40. A.S.Abhay says:

    If I buy an option in cash in MIS and if there is balance cash available in the ledger account, will the position be automatically squared off at 3;20 pm?

  41. Samruddhi Vyas says:

    Thanks for Zerodha first of all. I am new to trading but with Zerodha its getting good. I want to understand Cover Orders for intra day- so where to send mail or call for a demo?

  42. rajiv singh says:

    By using CNC, we can store stock in our account for how many days ?

  43. Rajiv Sehgal says:

    In case I have Demat A/c with SBI, can the same be mapped with a new trading A/c to be opened with Zerodha for delivery trade

  44. Hushaam says:

    Good Evening Nithin,

    Today, at 3pm I tried to convert short positions of Voltas June’15 stock future 5 lots (5000Qty) from MIS to NRML but could not succeeded as you trading terminal -ZM responded with the remark as “short position cannot be converted from MIS to NRML” despite sufficient margin money (free cash) kept into my trading account, even-though in your position coversion tutorial, it says position conversion from MIS to NRML and vice-versa can be done. However, due to non-conversion of said short positions i have to square off all at 3.02pm with meagr profits.

  45. Hushaam says:

    Sorry to bother you and will refrain from it.

  46. satish says:

    Hi Nithin
    If buy stocks with CNC option and i want sell them on same day(intraday) do i need to convert them to MIS
    and sell or directly i can sell with CNC option.

  47. Rajkumar says:

    Whenever i tried to convert position in trade book i got an error msg “Action right is disabled for converting Position in Trade book” What is this and how to resolve it

    • Vinay says:

      If you are using a latest version of Zerodha Trade 3.11.2 you should be able to right click on tradebook (F8) and convert the position of executed order. This option is enabled for all the users. While opening the application make sure to right click and select run as admin option. If you are still facing a issue send a screen print to [email protected]

  48. Shahzeb Khan says:

    Sir, why there is no option to convert from MIS to CNC or you didn’t explain it as i can see only NRML?

  49. Seenivas says:

    Dear For position conversion ( From MIS to CNC I did at netposition window instead of admin Position (F11) or Trade book (F8), is it correct?
    Shall I sell my shares on next day and how can you sell it off (I’m very new to trading please explain

  50. Niraj says:


    I am holding call Eq option of xyz co. for the month sep 15 since last month (NRML). As of now due to volatility am facing loss of 80% of my margin. Shortly the contract will expire. Is there any way to reduce loss by the means of position conversion or any other.? Please answer at the earliest. Thank You.

  51. Farsheed says:


    Is there a way by which I can convert an intraday buy order to an equity delivery order?

  52. Harish says:

    Hi Nitin,

    Lets say I buy with MIS and convert it to CNC.
    what will be my brokerage charges?
    a) will it be MIS charge only (interday brokeage charge)
    b) will it be CNC charge only (delivery brokeage charge)
    c) first MIS order charges and then CNC charges


    • If you buy and keep the position overnight, it will be considered as CNC trade, the modification of product type doesn’t really come into play. The brokerage will be like delivery 0.1% or Rs 20 whichever is lower.

  53. purva kulkarni says:

    hello i am purva kulkarni. I want to ask that how square off values in bracket order?

  54. dk says:

    if i use margin by zerodha then after making profit will i get full profit or it will be deducted by zerodha as some % decided by zerodha margin

  55. Uday says:

    I want to buy a stock and trade in delivery basis so what type should I select, NRML,MIS or CNC? If I purchase through NRML for example a stock of worth Rs.100 and sell it when it’s price raises to Rs. 120 can I get profit of that 20?

    • You need to use product type as CNC for delivery based trades. If you want to do intraday, use MIS. NRML is for trading futures and options. Yes, you can buy at 100 and sell at 120 to make profit of Rs 20.

  56. Anand says:

    Hi Zerodha ,
    I have a query regarding position conversion in zerodha.
    what if in intra day i have sold some x number of shares using MIS product type and at the end of the day , i want to keep the stocks over night , so even then can i use this position conversion.
    1.If so , Selling is not allowed in CNC (Delivery based trading) , so what will happen.
    Example :
    i sell 100 shares of stock X at rs.50 each , but price moves up against me , at 3.00 PM price of stock X is around rs.45 , so at this point if i do position conversion , will my shares be converted to Delivery (CNC) with rs.45 as bought price (Since delivery doesnot not allow sell , will my order become buy).
    Kindly advice me on this.
    Thank you.

  57. Ranjeet Gond says:

    Dear Sir,

    I have a querry regarding the trade in your product type.

    1.Suppose I have purchased a share @ 400 in CNC as delivery based and after 3 days I have sell the same @405 in CNC but due to gaining profit, buy the same share in CNC @399 on same day. Pls advice will my order become intraday or what. In this case how brokerages calculate?

    2. Can I trade intraday in CNC product type?

    Your advice in this regard is helpful to me for future trades.



  58. Ranjeet Gond says:

    Dear sir,

    1. On kite platform every time refresh button has to be pressed for every menu i.e dashboard, order, holdings, position etc. It is not refreshing automatically after buying or selling. Pls do the needful.
    2. On Omnesys palteform, buying, selling etc orders not reflected, as it shows blank in Z5.

    Pls do the needful.

  59. S. Vijaya Kumar says:

    I have sold certain share as MIS. Can I convert the same and buy back next day?. if yes, how do I do that.

  60. Mukesh Singh says:

    Dear Sir
    I brought 1000 of JP Asso @10.75 today under MIS option then I converte CNS. Can I be able next day to sell the same and what will be brokerage come.

  61. Gautami says:

    Hi Nithin ,

    What happens if the stock expires which is valid for a day but is marked as CNC .Is there any solution to modify the stock validity after the market closing time .

  62. dharmesh Dholiya says:

    I am short call Eq option position of xyz co. for last day of expiry then zerodha Auto squared off MIS product before close market or by way off auto close by exchange position ?

    • Venu says:

      If you’ve shorted in MIS, the positions will be squared off by our systems. If there’s no corresponding buyer because of expiry, such options will be left to expire.

  63. Bharadwaj says:

    Can you please help me understand the scenario.
    Suppose I buy 1 call option @ Rs10 i.e paying Rs750 and this order type is MIS.
    I convert this from MIS to NRML
    Q1 : Is there s charge for conversion ?
    Q2 : Will there be any DP charges if I see it after 2-3 days ?

  64. Aashu says:

    Dear Nithin Sir,

    I want to Rollover my call options from March series to April series. For real, I have Lupin 1600 CE 25000 options at 25, which is now trading at just 10. If I were to rollover these options to Arpil, what will be the process?

    Do I need to pay both Spread and Brokerage or just Brokerage? 1600 CE is trading at 47, which is really high compared to my options current trading price.

    Thanking you in the anticipation!

    • Aashu, yeah you will have to sell your option trading at 10 and buy the next month at 47. Yeah unfortunately you will have to pay the spread, that is how options generally work.

  65. SHIV PAL says:

    Hello , I am confused regarding minimum balance that we should have in our account to trade a option ( specially to buy call option). Only premium amount is ok or we should have total amount of underlying stock.

    For example If I trade a lot (75) of nifty at strike price 7650 and nifty is trading at 7620 with option price 100. Then, Should I have 7500 X 75 = 5 62 500 Rs ? Or only premium amount 75 X 100 = 7500 Rs is enough. Please reply .

    Thank You

  66. Kumar says:

    Can I convert my position which I bought for 1.7 worth of 6800 (4000 qty) and it’s current market position is 0.4 and I am in loss of 5200. What if I convert this qty 4000 NMRL–>MIS the loss remains same? is it right choice to convert this position? Also please tell me what is this conversion for?

  67. dheeraj says:

    Sir can I sell the shares same which I purchase under cnc
    Please mention briefly and charges which occurs.

  68. Prasanta Sarkar says:

    Dear sir,
    Almost two months back I have purchased some shares online by using NRML product code. Now those are shown as frozen shares.
    Please suggest how can I convert it to CNC
    Because I want to sell these shares immediately
    With best regards
    Prasanta Sarkar
    Mob: 9903964724

  69. Subrata Bakshi says:

    What is frozen shares? Can I sell the frozen shares?

    • Venu says:

      When you choose to pledge shares and raise a loan against such shares, the DP will freeze such shares which means you can’t transact/sell/move these shares out of the account.

  70. Shashank says:

    I took MIS Market “sell” position in Nifty Futures @ 10:40 am. At around 3:16 pm this position went into 100 points profit hence I thought of
    squaring off the same to book the profit by putting MIS Market “Buy” order.
    To my surprise this order was not executed and the status showed “Open Pending”.
    I thought the same order might get square off by zerodha @ 3:20. But there were more surprises in store for me 🙂
    Even after 3:30 pm the profit booking (remember 100 points) order never got executed.
    I was told there were few technical glitches @ zerodha server hence the order could not get executed at that time and will be settled by 5 pm.
    When I checked again @ 6pm, to my surprise I was told that order was not executed and will be converted into NRML and will get executed the next day.

    I have few concerns and queries with this –
    1. Is it normal with the brokerage houses to convert MIS orders to NRML without my consent ? what does the rules say ?
    2. Suppose market opened with a big gap on opposite side the next day, what will happen to my intraday profits ? even worst there are high changes of my
    position getting into heavy losses. How does zerodha help me in mitigating this risk ?

  71. Rajesh says:

    how i convert mis trading into cnc trading, please help me

  72. Tulika says:

    Can I Convert Bracket order(BO) positions to MIS or NRML Positions??

  73. Raj says:

    Please explain difference between below two scenarios:
    1. Buying 10 lots of GBPINR FUT or NIFTY using NRML or CNC product type.
    2. Buying 10 lots of GBPINR FUT or NIFTY using MIS product type and decide to convert the same to NRML or CNC before cut-off time.

    In both of these cases, will I be paying the exactly same Brokerage and all other taxes and charges? If there is any difference, I would appreciate if you explain the same in detail.

  74. Gagan says:

    Hello sir
    Sir mera question ye hai ki yadi mene xyz company k stock ka 1 future ka lot kharida h aapka margine use karke or me ise hold karna chahata hu 30 din k liye to me kar sakta hu qa

  75. Ritesh Jain says:


    Today I bought 5 Qty Godrej Consumer Products through MIS, however as i was suffering loss, i converted the same to CNC. Now can i convert the same back to MIS tomorrow for trading. Incase no if I make profit how can i sell this stock tomorrow (practically I’m not holding this stock in my demat account as the same will be credited only after T+2 days.) what brokerage will be applicable for such transaction..

    Thanks and Regards,

  76. Prajwal says:

    If I’m holding an stock from yesterday, how can I sell it today ?? what code should I use ?? mis or cnc ??

  77. Thangaraj Mohan says:

    I buy stocks selecting CNC, can I sell the stocks on same day? Is there any charges apply??

  78. Dhiman says:

    Today I have converted a normal position to MIS overnight. I was incurring a loss of 20000. As soon as I convert,system books 10000 loss immediately and adjusted the avg price. Now in Q it is shown realized loss as 10000 and unrealized loss as 10000. But in kite the red number is showing as -1890. Funds went down by 10000. Please explain this.regards

    • Prakash says:

      I had experienced exactly same problem where i had 1 nifty lot NRML position for 2 days and then i shorted nifty with MIS while keeping NRML position intact. But next day i saw my profits got booked for NRML position and it’s avg price has been moved to the price where i shorted intraday, and hence unrealized profit almost zero. I lost my long term position!!!
      I contacted zerodha customer support about this and they have not given me proper answer till now. Looks very shady unless given proper explanation.

  79. shiv pal says:

    I want to know , I bought stocks as CNC , can I sell it on the same day.

  80. Prem says:

    Can we convert Option aug call to sep call????

  81. Nagaraj S says:

    Gud Evening Sir..

    I have started a new account with Zerodha, I m still learning. I have bought some shares on CNC, it is showing in position, not showing in holding…Can I sell them when they are in position, if not, how to go about selling….Kindly help.


  82. ManJu says:

    Hi Nithin,

    yesterday morning i bought alicon at 301 and today morning i sold it @310..but end of the day it didnt excuted..May i know the reason..


  83. ManJu says:


    we cannot sell it when shares are in positions..


    could you explain opposite order.


  84. Nagaraj S says:

    Hello Sir,

    I had 10 shares of RECLTD in holdings, So I sold them today, but it is not reflecting in my equity Margin. I’m confused. Kindly help

  85. Nagaraj S says:


    Do you provide any training for first time traders who have no idea of stock trading…..



  86. ManJu says:


    Please explain about the below option

    Square off your ITM (In the money) options to avoid paying excess STT.

  87. ManJu says:

    Thanks Nithin..Have a great weekend.

  88. ManJu says:

    Hi ,
    Please post the videos related to shorting in zerodha.. if are already exist in youtube kindly share the URL.thanks!


  89. Gaurav says:


    Made my first MIS trade today and made a small profit of Rs.14.5( I told you its small.).

    On Dashboard it is showing Margin Used as -14.5(negative). I am new to trading. Where can i get what that negative margin means?

  90. Chithra Padmanabhan says:

    Can we convert a sell position in stock futures to delivery under cash segment against shares in demat?

  91. Ravi says:

    How to convert short sold MIS stocks to CNC?

  92. ManJu says:


    My friend want to do trading, he has only PAN number ,does not have that PAN proof.. is he eligible to open demat account.? kindly confirm. thanks!

  93. fk says:

    1 can i short sell mis share convert to cnc
    2 can i short sell in cnc

  94. Subhankar Saha says:

    I bought one crude oil November future at 3033 product type NRML. now today it is down to 3001. so i am in a loss of
    2600 rupees. will it be today debited from my margin?When it will auto square off? Will the closing price of today be the buy price of me in tomorrow? I dont know anything. Please answer.

    • Based on closing price today, there will be either MTM debit or credit to your trading account. So if crude closes at 3001 today, loss of 2600 debited from your account. Starting point for tomorrow is 3001. At the end of the day, if you have 10 to 15% lesser margin than what is required as per exchange, your positions might get squared off.

      • Subhankar Saha says:

        starting point for tomorrow is 3001 means tomorrow’s calculation of P/L is based on 3001? what will be my average price for next day? will it be still 3030 which is me buy price today?Then what precautions i need to be taken care so that my order doesn’t auto squared off?

        • Venu says:

          Yes, tomorrow’s P&L will be done with your entry price being considered as 3001 since the contract would have gotten MTM’ed (Mark to market) today.
          You’ll only have to ensure that you maintain sufficient margins to be able to carry forward positions on to subsequent days.

  95. aman upkar says:

    sir on friday i bought 100 shares of xyz as mis as price go down i converted into cnc . on monday will i be able to sell these shares. if yes then i should sell it in cnc or again i need to change it into mis also please tell me i will get any loss by this process . please make me to understand

    • Venu says:

      Yes, you’ll be able to convert it into CNC, provided you have sufficient funds to convert. Monday, you’ll have to sell the stocks under product code CNC. Your loss will be Sell value – Buy value.

  96. fk says:

    Can i short sell mis any share

  97. […] You can convert MIS to CNC and vice versa, by visiting Admin positions (F11) or by visiting Trade book (F8). You will need 100% cash in your account to convert to CNC. To know how to convert your positions click here. […]

  98. Chenthil says:

    I bought in BO. But I need to convert into NML. How can I convert in Kite. I tried convert position in Positions, it’s showing error.

  99. fk says:

    I short sell 48 share of adlab my trade is complited then one hour goes share upper circut can my short sell share buy

  100. MAHMUDHA says:

    I am holding Hindalco 02 lots in sep2016 futures. as the trade is in a loss, i want to rollover to oct2016 futures. can u please tell me how to do it?

  101. Steffy says:

    I am holding 250 no’s of share X bought at Rs.100 one week back. Today the share price being Rs.120 , i executed SELL in CNC at 1.30 pm . Once I sold the share, the price started reversing from 120 to 115. Can I convert the position from CNC to MIS and book the intraday profit? At the end of the day will my holdings be restored to 250 shares ?

  102. riyaz says:

    Suppose i bought some shares with product type CNC, bought shares wants to sell the same day, so what product type need to be selected.

  103. Balu says:

    Margin required for selling an option is more compared to strategies (ex: sell 7700 call and buy 7800 call) order so, if I want to place an order for my strategies to using lesser margin requirement i.e. span calculator’s calculated margin for a strategy , How can place order option strategy in kite simultaneously with two different strikes for the same script (if my margin lesser for selling option).

    • Venu says:

      You cant place spread orders on kite. You’ll have to place orders one after the other. Once you take both the the positions, the margin benefit will be applied.

  104. Balu says:

    sorry, not as MIS I want to use product type of NRML or CNC

  105. Kamal says:


    I bought 2 lots of Natural Gas under NRML. I had just enough money in my account for this trade. At the end of the day the price dropped and automatically one of my lots got sold, leaving me with just one lot. Can you please explain how this happened?

    • Kamal, you need to maintain the minimum margin in your account all the time to carry forward positions. If you don’t, exchange charge penalty. When margin drops below the minimum required, our risk management team automatically squares off positions to the extent you can hold.

  106. abhinav says:

    hello sir.. i have a doubt regarding intra day trade of birla cotsyn… sir what if buy this share at 5 paise and later sell at days high of 10 paise.. will i be earning 5 paise per share? i have a brockerage of 20 rs per trade. please guide me through this

    • Abhinav, I am guessing birla cotsyn is in T2T category. So what it means is that you are not allowed intraday trade. Zerodha brokerage is 0.01% or Rs 20 whichever is lower for intraday trade. Even if you bought it at 5 paisa and sold at 10 paisa, your brokerage would be just 0.01% of that amount (0 in this example)

  107. chandana says:

    Hi Team,
    Is it possible to convert a future buy trade under NRML into CNC ?

    • NRML is for overnight positions in F&O (CNC is for equity delivery). If you buy F&O as NRML, you can hold it till expiry, and no can’t convert NRML to CNC.

      • Rajib says:

        Hi Nitin
        I have a question related to this.
        **If I want to hold an equity future e.g. Banknifty or Nifty bought in NRML Margin till its expiry can I do so ?
        ** Also will there be any other kind of deduction from my account or from my if the price falls ?

        Thanks for your response.

        • Venu says:

          a. Yes, you can as long as you always have the specified NRML margins
          b. If the position makes a loss, MTM losses will get debited from your account. You’ll have to bring in additional funds in order to carry forward the position.

  108. chandru mehta says:

    Nitin ji

    I have converted F&O from mis to nrml yesterday , I had shorted shares and since there was a normal loss i took a decision to carry on overnight .
    My question is :

    After conversion it shows rs 8000/ loss in MIS
    and RS 8000 loss in NRML position post conversion point ?

    How can one have 2 losses for the same shares . Is that just technical ?

    for example i shorted at rs 200 rate MIS , the price went up to 201 , @ 1000 shares F&0 the loss was rs 1000/- i converted the shares to overnight NRML @ point Rs 201/- and the position showed 1000 loss even though the price remained unchanged at 201/- which was the point rate of conversion.

    1000+1000 rs two losses at same rate ?

    can you pl help explain

    • No, it will just be a Rs 1000 loss. Must be a technical issue, can you send an email to [email protected] with a screenshot of this if you have.

      • chandru mehta says:

        Nitin ji

        i cant send the screen shot since its not available on PI now .

        My question again for clarification is :

        If i change / convert from mis to nrml in FNO does the amount at point of conversion becomes a loss ? and the point of conversion is afresh ? a new transaction , Then what is the point of converting ? I thought converting is to carry forward overnight so as to make the deal profitable over the next day / days .

        Am i right ?

        Yesterday i shorted tata steel 8000 shares FNO at 419.50 at 15:00 hours in MIS , since market closes by 15:19 hours the price went up by a 1 rs 421.5 and it was reporting a loss of 8000 rs , i took the decision of converting the trade to carry forward to the next day in an anticipation for the price to go below , I converted to deal to NRML and it showed me the following position

        a) TATA STEEL JAN FNO MIS : LOSS 8000 RS

        c) my question : is the loss carried forward from MIS to NRML ? . Or these are two different transactions
        – transaction MIS loss is booked and for the day even if the deal is carried forward to NRML as it is reflected in the contract notes that i got
        – ideally that is not right losses cannot be booked since i have taken the deal for futures by conversion
        – that means if i dispose of the shares next day at a price of 418.50 at profit of 1 rs ie 8000 my transaction would be Rs 8000 loss on conversion ( and ) rs 8000 profit next day on sale . ( net net zero ? )
        = that means even though i bought the share at 419.50 and sold it next day at 418.50 i am charged loss for converting it at rs 421.50 from MIS TO NRML ? is that right ? or the entry would be reversed in the next day contract notes ?

        can you please guide and correct my understanding .

        • It is just one transaction, you have just one open position. Losses will get booked only when you exit, MIS/NRML are all our internal mapping for an open position/trade. Of course if you shorted it at 419.5 and you bought at 418.5, your profit will be 1 point. Can you look at P&L on Q.zerodha.com. Quite a simple concept this is, I can get someone to call and explain to you.

          • chandru mehta says:

            thanks nitin ji , am ok if someone calls me after market hours 3.30 pm , im sure things will get cleared by itself on market hours by tuesday /wednesday in Q .

  109. Saksham says:

    If I buy shares of a certain company as CNC and later on decide to sell them on the same day after 3:20 PM, can I do it?

    • Saksham says:

      If yes, how?

      For both scenarios:
      Scenario 1 – buying before 3:20 pm and selling between 3:20 pm to 3:30 pm
      Scenario 2 – buying before 3:20 pm and selling after 3:30pm (post market)

    • Saksham says:

      Figured it out. I can simply sell it as CNC. I was trying to sell it as MIS which was giving me rms error

    • Yes, it will be considered as intraday trade.

      • chandrajeet says:

        dear Nithin,

        i am seriously having tought time with zerodha, i bought few shares of tatamtrdvr now i want to exit my position, but when i m doing this buy exiting from holding it the same amt of shares is getting sold it goes in my admin postion when i exit from admin position it goes in holding, how should i exit this same thing happened with icici also nd i faced loss, also when i put limit order to buy above the price order gets executed at market price this seriously nonsense going on, please help me in this

  110. vinnu says:

    Please put a position conversion video from MIS to CNS of both PI and KITE platforms. A single video clears many present and future people’s doubts instead of answering to everybody who are new to Zerodha like me. I hope a video on position conversion will be put by Zerodha in the coming days…..

  111. hitesh says:

    can i square off the trade made under co and bo before acually hitting the set target

  112. Dakeshwar Dewangan says:

    Can i have Convert my Position on Option.

  113. jack says:

    Sir, I want to know about demat account,delivery,cover order and CNC.

  114. apurva says:


    I placed mis bracket order, in positions it is showing one open position but all values like avg price, qty etc is zero and
    also showing p&l for the day .But in Q-backoffice it is showing no open positions.I am confused.Please help.

  115. venu says:

    1st order:if i buy auropharma call option for Rs10 (2100quantity) on 12th april as nrml.
    2nd order:i sell the same at 9.5rs on 13th april at 10.00am>>>>loss=1050rs
    at 2pm on the same day,it is trading at 11rs.
    what happens if i convert the position to mis now?

  116. Pratik shah says:

    Today I have sell 140 shares of just dial @ 487 in MIS, and purchase 140 shares @490 in CNC. So, can my mis transaction will convert in to CNC automatically or either my CNC & MIS transaction will make different profit or loss?

  117. Prince says:

    Dear sir why BO of Bank nifty option has been stopped.

    • Venu says:

      The reason we blocked bo/co and in bank nifty options is because of the increase transactions in deep out of the money far month bank nifty weekly options which doesn’t have any intrinsic value. We are hitting open interest limits of 15% set by the exchanges which is causing inconvenience to our other clients who want to trade closer series options.

  118. siam says:

    one query: i buy 1lot zinc mis order at 270.i sell 1 lot mis-sl order at 265.will it act as sl order and cancel each other in case the price comes to 265?

  119. Jatinder Jaswal says:

    Lets say that I have 100 shares of X Company under my holdings, in morning if I sell those shares under CNC order type and later find that the price of that company has gone down. Can i convert the earlier sell order into MIS and buy, again under MIS at lower price to cover my intraday.

  120. Debasis Banerjee says:

    Hello nithin,
    Please tell me how to switch from delivery to intraday?
    I am new to such concept.
    Suppose if i buy 1000 stocks of M using product type MIS which is intraday based. Then i need to convert it to CNC Type then how to do? as i wish to hold . next day i wish to sell it using mis type..is it possible ?please tell me how to do.from last few days of my trade i was able to trade using cnc type only as i was trading wid low capital.now i wish to go a bit high so i want to know every step to proceed.

    • Akshay.A says:

      Hi Debasis,
      YES, You can convert Equity holding positions from MIS to CNC and vice-versa by using the CONVERT POSITION option.When converting from MIS to CNC, you need to have the full cash available in your trading account.You wouldn’t be able to sell in MIS the next day.
      You can sell using the product code CNC.

  121. lalit mohan says:

    Dear zerodha
    I want a positional trading in banknifty. how can it carry forward month by month? I mean it will automatically carry may then june then july?

  122. laraib says:

    Today i have buy the 60 shares of DENABANK in CNC and i want to sell it by 2moro is it possible to sell share before delivery.

  123. PRADEEP RAJAN says:

    I want know the validity of CNC stock and what’s your brokerage?

  124. vincent says:

    Let say i have bought a share @ 100 thru MIS
    When the price goes to 90, I would like to convert the share to CNC.

    Now, will the price per stock would be 100 or 90 at the time of conversion?

  125. Shivam says:


    Sorry for posting on two threads, I found this later and seemed more relevant to my query.

    I took a long position in Nifty put June options, under NRML order type. Now I’m not able to close the position because there isnt enough margin. Why do I require additional margin for closing my position?

    Many thanks for your time.

  126. swaroop says:

    Suppose I buy shares using MIS. I have fund of 15000 and used 10x MIS so I baught shares worth 150000.
    Each share value is Rs.150 so I have 1000 shares.
    On same day, if share value goes down to 145, I would like to hold the position.
    My question is
    To convert this MIS to delivery, do I immediately need to pay 150000 – 15000 = 135000?
    If not, How many days can I hold the shares by initial funds usage of 15000?
    What can happen if I am unable to add funds required to hold the position?

  127. Deepak Kunigiri says:

    Hi I bought CNC on 5th June 2017, its not visible in my holdings now. Where can I see it?

  128. B Dhar says:

    Dear Sir
    Can I convert / extend a future share expiring in the month of jun to the next month.

  129. raman saini says:

    How i do a order to be on holding position ,i am in loss,
    i convert position from MIS to CNC but it cannot be seen in holding bar, i have sufficient fund in my account.
    what should i don now??

  130. B Dhar says:

    Dear sir
    1. What is the brokerage charge in zerodha per order?
    2. Is it charged only for executed order?
    3. Can I check summary of trading and net profit / loss of all trading put together?

  131. Md. Jeeshan Anwar says:

    If I buy some stock using MIC without BO or CO..
    Will it be converted into CNC automatically if don’t sell it?


  132. Sharathkumar p s says:

    Selling OPTIONS today and buying tomorrow is possible

  133. ashwin.J says:

    hello nithin,
    1. if i buy some stocks using MIS,after finishing the trade you will charge anything for MIS other than
    brokerage charge

    2.i seen in my zerodha kite app ,what is that margin available and account value..? how you calculate the margin.?

  134. Shahnawaz says:

    Sir ,how to convert holding position into MIS .

  135. Raj says:

    I have executed a CNC sell order by mistake on NSE instead of BSE………..I wanted to sell shares i already hold in BSE

    I realized my mistake after market close on friday

    What I can do to remedy the situation.

  136. kiran says:

    Hi nithin,

    can I convert holding next day to MIS for example today I bought shares tata motors 500 and I hold it for the one day, and shall I convert the same to MIS on tomorrow.

  137. Kiran says:

    Hi Nitin,

    My question is if I buy shares using MIS. I have fund of 10000 and used 10x MIS so I baught shares worth 100000.
    Each share value is Rs.100 so I have 1000 shares.
    But Quantity of shares showing still 100 and doesn’t showing 10x MIS result too. Even in contract note also not mentioned about that margin details.

    How i came to know these details.?

  138. Ashish says:

    I want to convert cnc to intraday to increase my margin. I do not know the steps for the same in Kite platform.

    • CNC can’t be converted to MIS once you it is in holdings. You will have to sell the stock, use the margin to trade more and convert the sold stock to MIS before end of day and cover it back.

  139. AMIT says:

    I trading normal intraday but when I checked my ledger it show Rs 20 daily for call and trade charges but I use my computer for trading then why? .

    • Amit, if you let your intraday positions pending at end of the day, they are squared off from our dealing terminals. At that time, there is a charge of Rs 20 as we are placing trades on your behalf. If you don’t want this, make sure to exit your intraday trades yourself.

  140. B Dhar says:

    Can an operator or anybody get to know my SL position?

  141. kapilupreti says:

    Can u please tell me what is the time limit for converting my intraday position to delivery based on the same day ?

  142. Danny says:

    Suppose I have 25 shares as CNC and I want to convert it to MIS, so after conversion how much shares I’ll get on MIS to trade ?

  143. Mayank says:

    Dear Nitin,

    I already have 100 shares of X in my portfolio, now today i sold 50 shares of X at 222 (delivery) and on the same the price goes to 200. So, can i convert my position from CNC to MIS?

    What procedure are required to be done? What are the charges?

  144. Balamurugan says:

    If I convert mis to cnc will it take t-2 days to reflect in my account?

  145. B Dhar says:

    In normal trade, SL given gets cancelled autimatically at the close of the day if it is not triggered. Next day u have to put a fresh SL in kite platform. However in some other platforms, SL once given does not get automatically cancelled at the close of market. Can we have similar provision in zerodha platform?

  146. NISHANT SALUJA says:

    Pls let me know how can I rollover my future contract in zerodha App…

  147. Rajendra says:

    Looking for intraday position and want to convert to Delivery. what is last time for such kind of option.
    is there any charges required?

  148. Brajesh says:

    1. If i am buying a stock with MIS BO type order . is it possible i can convert it to CNC.
    2. if I am converting a stock from CNC to MIS for a day . will it be possible that i can convert same stock from MIS to CNC on same day .

  149. eswar says:

    I bought few shares using CNC in some YYY company, again i would like to buy few more shares in the same YYY company.
    my question is now do i have to sell my current YYY company shares first? to buy few more share ?


  150. AJITH THOMAS says:

    Sir, is it possible to place aftermarket orders in MIS mode?

  151. sandeep says:

    if MIS is converted in to CNC & then trade is settled in the same day, will it carry intraday charges or delivery charges?
    after GST kindly explain all type of taxes levied on trading .

  152. Prem says:

    Dear Nithin Kamath ,

    While conversion from MIS to CNC, will consider a scenario:

    Let say, If I buy (100*10) shares at Rs (10000*10) with margin of *10 and each stock costs me around Rs. 100. While conversion to CNC, I need full amount as you have mentioned in previous posts. Full amount – In this case, is it Rs. 10000 or Rs. 100000?

  153. Abhijeet Durge says:

    Say if I short GOLDENBEES at INR 2698 with a target of INR 2089 on T day and is hanging around support level of 2662, can I take my position forward next day converting my MIS to CNC? What am I supposed to do on T+1 day? What are implications of converting my equity position from MIS to CNC? How much margin do I require? Hope I am asking right questions cause I am an amateur when it comes to intraday trading.

  154. Saurav kumar says:

    Hi karthik,
    I don’t know where my profit has been eaten. Is there eaten in lots of taxes. I made regular loses. But, sometimes i made profit margin got debited. I have seen contract notes . Just got frustrated and want to quit trading.

    • Saurav kumar says:

      I closely watched the contract note then found i made the profit of Rs 7.50 and total taxes was about Rs 5.23 in which STT(security transcation tax) was highest. But, my capital reduced from Rs 3954.14 to Rs 3947.78 instead of crediting me Rs 2.27 they debit Rs6.359. I don’t what is happening you firm deducting my captial whatever they want?

  155. Jeba says:

    I bought a CNC order by 2pm and when it’s in the position tab(zerodha app), i clicked on the exit button at 3pm(since the stock was moving towards loss). Will that be treated as intraday?? What kind of charges apply to that?

  156. vishal says:

    Suppose I buy 1 lot of nifty as normal at 9900 . On the same day if I sell 1 lot as MIS at 9500.
    1. Will I hold both long and short positions?
    2. If the answer to the above question is yes and we hold both long and short position. What will happen if I try to convert any of the position, either from normal to MIS or MIS to normal? Will this result in both of my positions being closed?


    • Matti says:

      Yes. If you use different product codes, you will be able to hold both of them. The MIS position will, of course, be squared off at the end of the day. If you convert one of the positions, then they cancel each other out.

  157. SATISH PAI says:

    Can we convert Bracket order Net quantity to Normal order quantity

  158. Raghu says:

    Hi Nithin,

    I am using Zerodha for my trading, I am having a small query which I request you to assist me,

    I had a position of Bajfinance Octo Futures @1950 and now persisting with the Loss of almost 60K and can I now have the flexibility to convert the same position to Nov Futures. If yes do I need to pay any excess amount for that if so what would be the payment around.

    Please kindly revert.

    • Zerodha Social says:

      Raghu, you can rollover your position. This is nothing but exiting the current month’s contract and taking a fresh position in the next month contract.
      There are no charges for rollover apart from the brokerage to exit your current position. Alos check this post.

  159. ganesh raj says:

    If I buy some 100 shares of YYY in CNC and sell it on the same day, will the brokerage be charged as intraday or delivery? In other words, must I buy it only under MIS to avail the intraday brokerage?

  160. Prabhu says:

    What is position conversion in options call buy.
    Can anyone explain.

    with regards,

  161. Jitendra says:

    Very bad experience of trading.. Last day’s equity position sold today.. Now my margin is showing as negative and not able to place new orders.. No demo given to me as promised.. I am doing trial and error to understand your margin and trade practise with a small amount of money before going into actual jobbing… And I am happy I did the trial as I would have lost a lot of money ..

  162. Sankaranand says:

    Sir if I buy a futures equity in mid and i see it coming down so can I convert it into nrml before 3 20 so I can sell it later without any loss. Similarly Nrml to MIS . Is it possible?

    • Matti says:

      Yeah, you can convert between NRML and MIS. To convert from MIS to NRML, make sure you have enough margin to keep the NRML position open overnight.

  163. Lokesh says:

    Suppose I bought shares in CNC mode at morning but at the end of day I wanted to convert them to MIS; does it allow to get the benefit of leverage for the amount I invested in that particular stock?
    plz explain with scenario if possible.

  164. B JITHENDRA KUMAR says:

    04/01/2018 12:06 pm

  165. Sruthy says:

    Hi Sir ,
    Suppose I bought 100 shares in CNC last month for 10 Rs each (100*10=1000 Rs) and today I converted those shares to MIS and placed a sell order .As the price is decreased I converted the shares back to CNC. In that case what is the amount of money I should have in my account?

    • Matti says:

      For selling using MIS, you’ll need to have the MIS margin to short, i.e., LTP x MIS multiplier. Then, you just need to close this short position if you want to continue holding these shares.

  166. Sruthy says:

    Hi Sir,

    Need one more clarification.

    Can I place a short sell order for my holdings by converting it to CNC?

    For example : I bought 100 shares for Rs 10 in CNC last month and converted all 100 shares to MIC and put a short sell order for 12 Rs which is CMP and remaining 50 shares for 11 Rs buy.Will i get a profit of Rs.50?

  167. Shrinivas says:


    How to convert BSE stock into NSE stock in Zerodha Kite?

    Kindly assist me immediately.

    Thank you

  168. Venu says:

    Hello There,

    I would like to know, is far OTM options(calls) in MIS are squared off even there are no buyers.


  169. Maya says:

    Hi, what happens when we buy stocks as CNC and sell it on the same day without converting into MIS?
    Is it auto converted?

  170. Sundeep says:

    How to place normal Order in Zerodha Kite?
    While placing NRML order, it advance window tab it shows Validity as Day. i.e does it mean order is valid only for the day?
    What to do in-case i want to carry it for 5-6 days or till expiry?

    • Matti says:

      Sundeep, the order, if left open is only valid for the day, however, if it executes, the position can be carried forward to expiry.

  171. Chandru says:


    I have converted 400 shares out of 1500 from mis to cnc as i was under loss. I have bought 1500 shares in mis at the price of 314.5… at the end of the day i sold 1100 at 305.80 and converted 400 shares to cnc.
    Amount used to convert mis to cnc is: 314.5×400= 1,25,800/-
    Next day in holdings total investment was showing 1,25,800 at avg price 314.5. but after next day total investment is showing 1,19,400 at avg price 298.50…

    Y my total investment is become less as i have invested 1,25,400.

  172. Vimal soni says:

    for how much day i convert mis to cnc ?

  173. Mukesh Kumar Roy says:

    is there any charges to convert MIS to CNC OR CNC to MIS

  174. chanikya says:

    I have taken 1700 quantities in MIS order and they are in loss, can i convert them into CNC?
    If i can convert, do i need to follow any timings? will the same loss will be there or it will be reduced? and can i sale the share in future?

  175. javed says:

    Sir i have one missunderstanding that what is margin???
    If i convert my mis nrml i need 100% margin amount,,,so i wnt to know what is margin???and how much it charge to convert mis to nrml??

    • Matti says:

      Margin is the amount required for you to maintain a position. When using MIS, the margin is 40% of what the exchange stipulated requirement is for holding an overnight position as the position will be squared off at the end of the day. The exchange stipulated margins can be found on the Zerodha margin calculator.

  176. Susheel says:

    dear sir
    I opened my account in your esteemed company just 2 months ago & just want to know which platform is better for trading (equity and commodity) on desktop, kite or Pi ? so that i can practice on that.
    Right now i m trading with Kite, with handsome turnover.
    plz help.

    Regards Susheel

  177. Sourav says:

    Suppose I have bought a share for intraday using the product type as MIS, but now I want to keep it to the next 10-20 days, how can I do it?

  178. kushal says:

    I sell mis and want to canel them what can i do

  179. amit singh says:

    i bought equity on CNC after two days i want to sell my equity in MIS,
    what are the charges will applied to it ?

  180. D Ghosh says:

    I carrying a short future position in HINDALCO as NRML. Trying to convert to MIS today at 10:00 PM. Software is not allowing to covert with an error message “Partial Pos Conv Exp Response : RMS: Auto Square Off Block”.

    What could be the reason?

  181. Vi says:


    I have bought nifty features and they are running in huge loss, can i covert them to next month features without squrreoff??

  182. Abhinay says:

    Hi Nithin,

    How position conversion works?
    When we convert any holding is Zerodha platform actually buying and selling the stocks/options in the market?
    If yes, then at what rate/price transactions are executed?
    If no, how the holding is converted without any interaction with exchange?

    There are no charges for position conversion, but then how service tax and every other charges are calculated.


    • Matti says:

      There are no taxes etc., levied for conversion. The position type (MIS/NRML/CNC) is internal to the broker. The exchange has nothing to do with this. At the end of the day, the exchange only expects the prescribed margins for teh position to be carried forward overnight.

  183. Ravindra Urmude says:

    i am by mistakly buy mis basis share but i want to buy cnc but i am not take any margine so can i change position befor closing stock market

    pleas repy fast

    thank you

  184. Nana says:

    I am new trader.

    Please share the video for buying in BO/CO order in MIS and also how to convert MIS order to CNC/NRML.

    Thanks and Regards,


  185. Anuradha says:

    I am new in trading .I have a Nickel June 250 KGS . can i convert this Nickel June to Nickel Aug without lossing my position?

  186. Anuradha says:

    one more query if unrealised profit in minus and i have no sufficient money to free cash as unrealised profit then what will happened in settlement?

  187. Anuradha Nandanwar says:

    I got total Profit 21650 Rs on 27/06/2018. But only i got 14990 Rs on 28/06/2018. i called 3 times in zerodha help center on 28/06/2018 but they told me only they are checking. Today i also called again he told me he is checking. what can i do for that please tell me>

  188. Rajiv says:

    MIS to CNC conversion is throwing error :

    “Partial Pos Conv Exp Response : Bad Input”

    Kindly Help

  189. Kannan G A says:

    MIS to CNC conversion is throwing error :

    “Partial Pos Conv Exp Response : Bad Input”

    Kindly Help

  190. Atul says:

    I have query – I have done short during intraday say sold 800 shares of MindTree at Rs 950 and at end of day suppose at 3:18 I observed that price didn’t come down below Rs 950 for buy. Is it possible that I carry forward this 800 position to next day and buy the share next day and close the position ? I saw there is MIS to CNC option. But is it applicable for short (sell and then buy during intraday) also ? Is there any extra charges for that ?

  191. SHAIKH HUJUR says:

    Hi sir,

    I am fresher to this market. I have very basic question and I am searching answer from last couple of days but I failed. please answer.

    Q: if I don’t have any holding on the particular day and I want to trade in MIS , can I put direct sell order ?
    Ex: ITC -current price is 275 , if I place sell order on this price will it be executed ? (No holding)
    if price fall down to 270 …is it profit to me?

  192. vikas says:

    I have taken CNC order after 2 days i exit that order but that order goes to MIS . so please sir why my order is not exit

  193. marzi says:

    in the above Scenario 2 , you mentioned if i convert my position from NRML to MIS, i get 10,000 gets released for buying other positions but wont it get squared off by night? and i will have to book losses? if i am in a loss.?

  194. Marazban Tavadia says:

    What are the Pros and Cons of Scenario 2??

    • Faisal says:

      You can convert your NRML position to MIS to free up margins to trade that day. However, you need to convert it back to NRML before 3.20 PM if you wish to hold on to your position, failing which your position will be auto-squared off

  195. Krishna says:


    I am trying to convert my NRML position for Equity Fut to MIS. I get following error –

    Partial Pos Conv Exp Response : RMS:Margin Exceeds,Required:112771.50, Available:93677.55 for entity account-XXXXXX across exchange across segment across product

    Why do I face this error? As far as I understand MIS margin requirement is less than NRML margin requirement. Please advise.


  196. Sandeep Tomer says:

    If I buy shares using cnc order and sell same day, will I get the leverage or margin on that trade

  197. Priyam says:

    How many times in a day I can covert my position from CNC to MIS and for same script from MIS to CNC.

  198. kiran says:

    Can we convert shorting position to delivery (CNC)?

    • Matti says:

      No, you cannot short stocks overnight. If you want to do this, you’ll have to short the future contract of the stock.

  199. sandhya says:

    I buy 7000 shares in MIS but forget to square off and they converted to CNC, next day they sell all quantity (shows in position). how to square off those stocks. Please advice

  200. Vineel says:


    Can you tell me what happens if i buy the same share at two different prices?

    For example- I have bought 100 shares for 100 rs in CNC.

    And then when the share was at 150 i bought 100 shares in MIS and then the share price falled to 120 and to avoid losses i converted 100 MIS shares which i bought to CNC .

    So, i have 200 shares but for different cost. When i sell the share now, which one it would consider to sell first?

    Appreciate if you could help me in this?


    • Matti says:

      If you’ve bought in 2 different product types (MIS and CNC) it would create 2 different positions with independent buy and sell prices.

      • Vineel says:

        Hi Matti,

        Yes, i bought them in two different product types (MIS and CNC) but to avoid losses, i changed the one i bought in MIS to CNC. So, i have 200 shares in CNC but i bought it for two different prices.

        Not sure which one it would take when i sell?- Heard that it would make average of 2 prices. But i think i am still in Loss right?


  201. Ravikiran Srinivas says:

    I have buyed Suzlon shares of Suzlon June 3 PE for Rs.0.05 of 2 lots. This shares are going to expiry on 27th June 2019. I’m not able to sell this shares now. I have only 3 days time.
    how I need to sell this shares now…?
    if Its get expired what will be the charges for me…?
    How it works…?
    pls help me.

    Ravi Kiran

    • Faisal says:


      Looks like your position has turned OTM which is why there are no buyers. If Suzlon stays above 3 Rs till Thursday (expiry day), your position will expire worthless and there won’t be any obligation.

  202. vishwanath shenoy says:

    sir i have a bank nifty in position i want to convert my position to overnight.pls explain me

  203. Hari says:

    If i have 4 Lakhs as available margin and if i have bought 20 crude oil lots with mis option then if i convert the 20 mis lots into 10 nrml lots then how much margin should i have? Since both amounts the same should i have another 4 lakhs as spare to make this happen?
    Please explain.

  204. Logu says:

    How can we do STBT ( sell today , buy tomorrow trades ) if we cant short overnight ?

    • Matti says:

      You cannot. You can short the future contract, sell a call option, or buy a put option if you want to short a stock overnight.

  205. Nevil says:

    I have purchased GOLDPETAL APR FUT 70 quantity under MIS. I need to move that to normal. How to do it? Please assist

  206. Rk says:

    Can i place stop loss in futures if i have to hold it for a week

    • Matti says:

      You’ll have to place a fresh stoploss every day. All pending orders are cancelled by the exchange at the end of the day.

  207. Girish says:

    “We were unable to square off your EQ intraday positions today. All such open positions have been converted to delivery trades. You will need to bring in the required additional margin or sell your shares at market opening tomorrow.”
    What do I do, when this happens?

  208. No. 302, Arvind Kabini Apartment says:

    Sir, for example I have sold 1 MRF share for rs.55000, under product type MIS at 10.30 am and suddenly the share price went up to 57000 by 12.30 pm. If I want to sell the share immediately without waiting till 3.20pm, for automatic square off, what should I do ???

  209. pinaki sankar adhikari says:

    I bought hdfc bank 100shares @821.50 (MIS), now i want to convert to CNC. CMP is 895. which rate will be applied when i convert my position from MIS to CNC. If I conver a few minutes later when CMP is 910, then which rate will be applied from MIS to CNC. Please reply.

  210. Bala says:

    I am buy share in CNC 10 no’s at 100 rupees, again same share buy in mis 10 nos @ 90 rupees . I sold mis 10 no’s in mis at 95 rupees.
    Here I will got profit 50 rupees or loss 50 rupees.
    2. My stock in CNC should be delivered at rupees 90 or 100.

    Actually I got delivered at rupees 90 in my delivery. Pls explain

  211. Bala says:

    I sell the stock in NSE , cnc 10nos @ 100 rupees & I buy the same in bse, CNC 10 no’s @90 rupees. How the buy /sell is completed or I want to close in both exchange separately. Pls explain.

  212. Nagesh says:

    I want to know two things
    (I)Can I convert short selling from MIS to CNC

    (Ii)If I convert my position from MIS to CNC then for how much time it is valid.
    Pls reply

  213. DR. D. GUPTA says:

    Sir, I see that despite passage of market trading hours i.e. well after 15:30 hrs (even in the same night late also), ZERODHA is giving us option of conversion for an already sold CNC. So there is a situation where I see that the price of my sold CNC equity has risen and I want to convert them late in the same night well after passage of trading hours on a FRIDAY, so what will happen if I see that convert my sold CNC position from CNC to MIS late in the night on FRIDAY. Kindly clarify.

  214. Mohd Tasleem Khan says:

    Could you please explain:

    Scenario1: I have shorted 1000 shares of XYZ, today morning and dont have any of XYZ shares in my Demat account. Since the price is not favorable, (risen up) I would like to convert MIS to CNC. Is this possible?

    Scenario2:Last month I have purchased 1000 shares of XYZ as CNC and it is there in my Demat account. But today morning I have shorted 1000 shares of XYZ as MIS and would like to convert these to CNC. Please explain what will happen now.

    Scenario3: Last month I have purchased 500 shares of XYZ as CNC and it is there in my Demat account. But today morning I have shorted 1000 shares of XYZ as MIS and would like to convert these to CNC. Please explain what will happen now.

  215. Mohd Tasleem Khan says:

    Sir please explain if I can convert CNC holdings next day to MIS and then sell in MIS on the same day when I converted the position.

  216. Vishnuvardhan says:

    i Buy100 share @400 in MIS and it went down to @380. so now i convert this MIS to CNC. now how much amount will be deducted into my account.
    1. is 400*100 = 40000 or
    2. ?

    • Matti says:

      You will have to pay 400*100.

      • Vishnuvardhan says:

        Thanks Matti,

        i have one more question

        I Sell some stocks in MIS and end of the Market i converted into CNC for holding some more days. Is it possible in holding to hold sell stocks?

  217. Sameer says:

    If I buy a stock as CNC, I should ideally wait till T+2 before I sell it, else I risk a penalty.

    But suppose, I buy a stock on Monday as CNC.
    Then convert it to MIS on Tuesday after market opens
    And then exit my MIS position for the same before market closes, will that be ok? or would it still be an early sale of the stock? (before T+2)

  218. Narayan Choudhary says:

    How to book 50% m2m profit and modify stoplosss to cost in intraday in equity?
    Eg: I bought 100 qty of shares @ 130 and SL 120, When CMP is 140 I want to sell 50 shares to book 50% M2M profit and modify SL to cost i.e. 130.

    Please explain how to do it and from to to it

  219. rahul KANDAGATLA says:

    1. I had converted from MIS to CNC will they charge 0.03% or 20 rs to my order ??
    2. for pending orders if I cancel/modify will they charge anything
    please can u answer to above questions

  220. Virendra says:

    If we convert the position from MIS to NRML and vice-versa. Is there any extra brokerage charges or is there any chargeable fee for converting the position?

  221. sandeep says:

    Wrongly i have put short sell order in CO type.

    Now i want to exit the position, but below error showing on app.

    Error :- cover/bracket orderw are exited from orderbook.

    Pls provide the solution on this error.

  222. Girish says:

    Is there any charges if I convert my overnight lot to MIS and than again at the end of trading hr to NORMAL


    IF i want to convert MiS to CNC then final margin(buy sell different lots ) is necessary or normal margin.

  224. Roshan says:

    How many days can i hold NRML stock? ( i bought it yesterday)

  225. Kiran says:

    If I convert CNC stocks to MIS. Any charges applicable?

  226. manisha jain says:


    What woul be my buying amount if i want to convert short seeling (MIS) order to cnc order .For ex. if short selling share amount is rs.100 but now the ltp is 120 .My buying amount will be 100 or 120 ?

    Thank You

  227. deepa says:

    when i try to buy an option for a particular stock in zerodha ,, it shows only intraday and overnight only …why not it shows up to expiry date…(suppose the expiry is apr 29) ????

  228. Akaansha says:

    Hi there , I sold some shares on MIS and the website is indicating that there is going to be a nudge . I am feeling like shall I convert it to CNC but I don’t want to , its also a Friday. is the nudge gonna go away . Or should I convert . O ! I really don’t want to, have d.p charges

  229. Shushant says:

    I have sufficient balance and while trading put option I only have a mis option to select, rather I want to convert it to normal. When I click to convert position, it doesn’t allow me to convert the position to normal. Can someone assist on this.

  230. Rakshit says:

    I buy some lots of nifty call option for long but now i see the premiums are getting down. If i want to convert them to mis how the calculations for P&L would be done

  231. haris says:

    can I convert Normal options trade position to MIS after I’ve carried it for 1or 2 days.

  232. Abdul Salphan KM says:

    If I convert from MIS to CNC and vice versa, what charges are applied when I finally sell them?
    Rs.20/0.03% brokerage of MIS or Rs.15.97 DP of CNC?

  233. venkat says:

    Hi i have cnc long, when i exit it it is going to cnc position with sold holding, when i try to exit that i get a option to buy with caution that it will result to penality . can you please help regarding this. how much penlity would it result on the trade?

  234. Vishal l vandure says:

    can i convert CNC bought today into MIS
    before EOD

  235. Shubham says:

    Hello Team Zerodha,

    I have query about MIS–> CNC conversion.

    Assuming I short 100 qty of any equity @50 rupees. Now price comes to 49
    At this moment, if I convert MIS–> CNC then at what price I will get the equity.

  236. Raj says:

    In a day how many times i can convert position from mis to cnc or from cnc to mis…

  237. Asha Manian says:

    Why do I see a loss when I convert MIS(Closed position) to NRML ?

    I have two questions,
    1. Why am I seeing a loss, when my average price is lesser( Note : From last trade of Active 4 lots (Out of 3 trades that I took, 1st two trades of the same lot size(4) were sold with profit) than LTP while I was trading in MIS ?
    2. When I convert my MIS to NRML, why am I seeing a loss in MIS closed position(Refer the greyed out position). However my normal positions are showing profit…. Is it best to convert MIS to NRML, though you see a loss in MIS(Greyed out )when NRML is showing profit…

    Note : I have posted the query as a ticket as well to your team, along with screenshots. I was expecting a person who has already experienced this situation can help me better on this. I was on the phone with them and none were able to answer to my point in simple terms for the two question..

  238. Vishnu says:

    Suppose that I buy a share at Rs 100 as MIS and then would like to convert it as CNC when the price is at Rs 85. What will be my effective buy price?

  239. Dveep says:

    can we convert (sell) sold holding cnc to mis bought it again

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