An order type is an instruction to your broker on how a trade should be executed. On Punch, you can choose from the following:
Market Order → Buy or sell immediately at the best available price.
Limit Order → Buy or sell at a specific price or better.
Trigger Order → Activates only when the market reaches your set trigger price.
Protection Orders → Set Stop Loss (SL) and Target (TP) together in one order, without blocking extra margin. You can also trail your SL to auto-adjust as the market moves.
Iceberg Orders → Break large orders into smaller chunks (up to 10 legs). For example, on NIFTY you can place up to 240 lots in a single order.
Basket Orders → Place multiple orders at once with one click. Create custom baskets to hedge or build option strategies instantly.
No, Punch does not offer MIS (Margin Intraday Square off) orders. All orders are normal by default, so clients are not required to square off positions the same day unless there's a margin call.
Market orders are treated as NRML (Normal), not MIS. This means you hold the positions until you square them off or they expire.
If positions are not squared off by expiry, they will be automatically closed, incurring a fee of ₹50 + GST.