FAQs

FAQs in English FAQs in Hindi

Intraday

• What is Intraday trades?

  Intraday is the trade where trades get settled on the same day of trading.

• In which segment I can place intraday Orders?

  Intraday is allowed in NSE Cash, BSE Cash, NSE Derivative, NSE Currency, MCX Commodity and NCDEX Commodity.

• IIFL provides higher leverage than the delivery segment orders?

  Yes. IIFL provides higher leverage in intraday product.

• How do I place intraday order?

  You need to select order for "Intraday" while placing order from normal order window

• Can I buy and short sell securities, contracts in intraday products?

  Yes. You can buy and short sell securities, contracts. Intraday trades in IIFL identified Z stocks of equity segment is not allowed.

• Can I Place market order and limits order in intraday?

  Yes. Market and limits order both are allowed in intraday product.

• Do I need to place stop loss order along with primary order of Intraday?

  No. Stop loss order is not mandatory while placing primary order.

• Can I place Intraday orders in all the securities, contracts?

  No. Intraday is allowed only in identified highly liquid scrips of equity segment, NSE Derivative Index future and options, NSE Derivative stock futures, NSE Currency USDINR Contracts and liquid contracts of Commodity segment.

• Can I place Intraday orders in any expiry contracts of derivative segment?

  No. Intraday orders are allowed only in current and next month expiry.

• Can I place orders in weekly contracts index options of current month?

  Yes. Intraday orders are allowed in weekly contracts of current month.

• What are the timings of square off if I do not close my intraday positions?

  Cash Segment	NSE Derivative	NSE Currency	MCX and NCDEX Commodity
  3.15 PM	3.15 PM	4.30 PM	Agri Commodity - 4.30 pm International agri commodity – 8.30 pm Non Agri Commodity - 11.00 pm Non Agri Commodity during US daylight saving time – 11.25 pm

• Can IIFL square off If I have any position in equity and scrip moving towards upper freeze or lower freeze ?

  Yes. Reason for doing square off of short position is to avoid short delivery in the exchange and to avoid auction penalty. IIFL tries to square off short positions of non derivative scrips before price on the upper side. There might be chances that the short position doesn’t get squared off if price moves towards freezing in a spike.Once scrip reaches the upper circuit / Freeze then fresh Intraday short selling position is not allowed for the day. This is applicable to only equity scrips where the underlying is not active in the derivative segment.

  Also for long positions to avoid any delivery IIFL tries to square off position for non derivative script before script breach to lower freeze.

• What happens to my intraday positions if positions remain open at end of day?

  If positions remain open for whatever reason is liable for the delivery settlement or carry forward positions in derivative segment. IIFL shall not hold responsible for any losses, brokerage and other charges, margin shortfall penalties etc.

• What happens to intraday open positions in NSE Derivative out of money options contracts at 3.15 pm?

  Exchange expires out of money contracts at ZERO price. IIFL don’t square off, if contract is out of money at 3.15 pm.

• How out of money type option is derived?

  Strike price of the CALL options is higher than SPOT price and Strike price of the PUT options is lower than SPOT price.