What is MIS, CNC & NRML Product Type in Order Window

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If you ever used any trading platform that will provided by your stock broker or If you are new in Stock Market. Then you might be wondered what is the meaning of MIS, CNC & NRML Product Type in Order Window. Don’t worry this article is all about explaining this thing. If you are new in stock market then you are in right place to learn all the basic & advanced things that required to be the better trader & investor. Basically this is my first article in my Stock Market series. Please Subscribe my blog just by putting your email id in subscription box which is available at your right hand side or down below if you are opened this blog on your mobile device. So Let’s do it.

  • MIS:- MIS product type is also called the Margin Intraday Square off. Basically this product type is only used when you want to take Intraday position in Cash or Future & Option market. MIS product type gives you the flexibility of using margin facility which provided you by your broker. In simple words with MIS product type you would be able to buy more quantity of the stocks with lesser amount of money. But you have to close your MIS position before the market close. You cant take delivery of the stocks if your product type is MIS.

  • CNC:- This is also called the Cash and Carry Product Type. We used CNC Product Type when we want to take delivery of that particular stock. In CNC product type margin facility is not available. You can buy stocks with only available money in your trading account balance. After T+2 Days stocks that you bought is got credited in your Demat Account only if you don’t squared off your CNC position on Trading day or Two days after trading day. People also used CNC product type if they want to play BTST (Buy Today Sell Tomorrow). In BTST you bought stocks today & sell it on another trading day.


  • NRML:- The Full name of NRML is Normal Order. This product type option is only available on Future & Option trades. We used this Product type option only when we want to carry Future & Option trade overnight. Otherwise we used MIS as a Product type when we take indraday position in F&O market.

Some Important Tips:-

  • CNC Product Type option is not available in the F&O orders. Because Futures & Options are traded in contacts which expires each month. So we cant take the delivery of the F&O orders in our Demat account. That’s why CNC option is not available while placing F&O orders.
  • When you take MIS position in Cash or F&O Market then you have to square off that postion before market close before or at 3:20Pm. Otherwise it will automatically squared-off by your broker.

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  • You will not able to take CNC position if you dont have a Demat account with your broker. You can also linked your existing Demat account with your broker if you don’t wish to open a new one.
  • You can take NRML position even if you don’t have a Demat account linked with your broker.
  • If you take CNC position & you closed that CNC position on same trading day. Then it will consider as a Intraday position.
  • You can also convert your existing MIS Position to CNC and Vice-Verse in Admin Position Window in your trading terminal. The process of converting Position is different from broker to broker. In this demonstration in using Zerodha’s Trading Terminal called Zerodha PI. In also using Zerodha as a my primary broker. You can also open a Trading & Demat account with Zerodha If you not have one. You only have to fill your Name, Email address & Mobile Number. After that you got a call back from their side & they will told you all the documents that required to open a Trading account with them.

So this is from me in this article. I hope this will gives you some information & cleared your questions regarding Product Types in stock market. If you like my post or this will helps you a little-bit then please Don’t forget to share this article on any one social media network.

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