What is MIS in Zerodha Kite?

MIS is an abbreviation for Margin Intraday Square off. It is a product type used for trading Intraday orders in Equity, F&O, and Commodity. The MIS orders get squared-off automatically by the system at the end of the day if the investors do not square off the positions by the stipulated time. Zerodha charges an additional Rs 50 per executed order over and above the brokerage (Rs 20 or 0.03% whichever is lower) for intra-day positions squared-off by the system.

Using the MIS product code, you get attractive intraday leverage facilities across all products except for buying Options.

Zerodha allows its customers to convert MIS positions to CNC/NRML provided they have sufficient margins and holdings (in case of sell) in their accounts.