What are the different order types?
The following order types are available on our trading platforms:
| Price Condition | Description |
|---|---|
| Market Order | A market order is placed to immediately buy/sell securities at the prevailing market rate. Hence execution is almost instant, provided that there are counter orders. |
| Limit Order | A limit order is placed to buy/sell securities at a specified price or better. So, a buy limit order will be executed only at the specified price or lower, and a sell limit order will be executed only at the specified price or higher. Execution of limit orders is not guaranteed as it depends on there being a counter order at the same specified price. |
| Stoploss Limit Order | A stoploss order is placed to help control losses on a trade. Stoploss limit orders have a trigger price and a limit price. When the trigger price is reached, an order to buy/sell at the given limit price is automatically sent to the exchange. |
| Stoploss Market Order | A stoploss order is placed to help control losses on a trade. Stoploss market orders have a trigger price. When this trigger price is reached, a market order to buy/sell is automatically sent to the exchange. |
| Product Type | Description |
|---|---|
| Cash | A cash order involves taking/giving delivery of shares on buy/sell transactions. |
| Intraday | An Intraday order involves squaring off a position opened during the day before the close of trading hours on the same day. |
| Buy Today Sell Tomorrow (BTST) | A BTST order is a leverage product that allows you to place a buy order and sell it before settlement. It is used to carry forward a cash position by paying only a margin. The facility is available for the equity segment on NSE. |
| Margin Trading Funding (MTF) | An MTF order is a leverage product that allows you to capitalise on investment opportunities that may otherwise not be possible due to a shortage of funds. By paying for a part of your order value in the form of a margin, the remaining amount will be funded by Geojit. The facility is available for the equity segment on NSE. |
| Time Condition | Description |
|---|---|
| Day | A day order remains valid until execution, till the end of the trading day. At the end of the day, the order is automatically cancelled if it does not get executed. Day orders on NSE are valid till the end of the trading day. Day orders on BSE are valid till the end of the normal trading session. |
| Immediate or Cancel (IOC) | An IOC order allows you to buy/sell a security as soon as the order is sent to the market. Any part of the order that is not executed (full or partial) is immediately cancelled by the exchange. |
| Good Till Date (GTD) | A GTD order remains active till a pre-defined date. These orders can be kept active for a maximum of 365 calendar days unless executed, expires, or is cancelled. |
| End of Day (EOD) | An EOD order remains valid through the normal and post-closing sessions of BSE. EOD orders on BSE are valid till the end of the trading day. The facility is available for the equity segment on BSE. |
| Other Order Types | Description |
|---|---|
| Bracket Orders (BO) | A BO combines three orders into one- an initial order, a target order, and a stop-loss order. This means that along with the initial order, there will be two (opposite) side orders placed as target and stoploss orders. The facility is available for the equity segment on NSE. |
| One Cancel Other (OCO) Orders | An OCO order consists of a pair of conditional orders wherein the execution of one order results in automatic cancellation of the other. It allows you to place two orders (a limit order and a stop-loss order) against an open position, at the same time. The facility is available for the equity segment on NSE. |
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