What is an Intraday order?
An Intraday order is an order product type wherein any position taken is squared off before the close of trading hours on the same day, and delivery of securities is not taken. In other words, a security is bought and sold on the same day.
- Intraday orders must be closed/squared off or converted by 3:15 p.m. That is, if you buy shares as an intraday order today, you will have to square off your position (sell) before 3:15 p.m.
- If you fail to close or convert your position before 3:15 p.m., it will be auto-squared off by Geojit's RMS (Risk Management System).
- Intraday orders placed between 3:15- 3:30 p.m. will be rejected.
- Since intraday orders have to be squared off by the end of the day, you will be allowed to execute sell trades for stocks that are not in your holdings (short selling).
To place an Intraday order on SELFIE / TraderX:
Select the Time Cond as INTRADAY in the order placement window.
Currently, intraday is not allowed for options.