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NRML and MIS are the product types used while placing trade orders that specify whether you are doing intraday trading or taking an overnight position.
NRML Vs MIS Order Type
| NRML | MIS |
|---|---|
NRML stands for Normal order. | MIS stands for Margin Intraday Square off |
NRML is used to take overnight position or to carry forward the positions | MIS is used for intraday trading i.e. buying and selling the same stock same day. |
Applicable only for F&O, Currency, and Commodity segment. | Applicable across all segments viz. Equity, F&O, Currency, and Commodity |
No leverage available for NRML orders | Leverage up to 5x times available for Equity MIS orders |
NRML positions can be held till expiry. | MIS positions need to be closed the same day. |
NRML orders do not get auto squared off. | MIS orders carry the risk of auto square off with charges if not squared off within specified time. |
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