How to place BTST order in Zerodha Kite?

Short Answer

For placing a BTST order via Zerodha Kite, the process is quite simple. You can follow the same steps as to how you might place an order on Zerodha Kite. However, when you buy or purchase a stock, you will have to select the “CNC product type” option in the buy order popup.

Detailed Answer

BTST stands for buy today and sell tomorrow, which is a growing trend amongst traders. It’s a format in which users can trade shares and stocks before they are even credited to your Demat account. In Zerodha, this feature is known as the CNC process. The entire trade cycle revolves around the stocks being purchased by the user, and within 2-3 days, it gets credited to your Demat account.

With a BTST order, users can directly sell the stock purchased without waiting for it to be credited. Zerodha allows such trading only on a few platforms such as stocks, GSM (graded surveillance measures) Stocks, and ASM (additional surveillance measures) stocks. Those looking to place a BTST order on Zerodha Kite can do so by following the steps given.

Placing a BTST order on Zerodha Kite

  1. Open the “Kite” application of Zerodha either on your smartphone or your computer.
  1. Once opened, then enter your login credentials with the correct password.
  1. Head to the watchlist section. If you don’t have any stocks here, then you can add some. From the watchlist section, choose the stocks that you want to place a BTST order.
  1. New orders can also be chosen to be ordered under the BTST format.
  1. Once selected for purchase, a “BUY ORDER” popup will appear.
  1. The entire procedure is similar. However, users will have to click on the CNC option for placing the order.
  1. After all, the order related data has been entered or selected, then click on “buy.”
  1. Right after clicking buy, all your details will be stored under “order details.”
  1. After placing the order, you can then log out and then login the next day. Your stocks will remain the same, and then you can sell them.
  1. Specify the criteria for selling the stocks and specify the stock order as CNC even while selling.
  1. Enter the relevant pricing and the quantity that needs to be sold and click on “sell” to complete the entire BTST order.

Do keep in mind that there are no margins offered by Zerodha on such orders. Moreover, the auto-squaring off feature doesn’t imply such orders, and users should have a full margin trading account to avail CNC buying order. Fortunately, the entire BTST order is free of charge with no brokerage fee. But there is a 0.1% charge levied on BTST as STT (securities transaction tax).

BTST Order

BTST orders to be placed on Zerodha Kite are relatively straightforward, where changing a single parameter in the buy order can fetch you the service. But it involves risks as the shares purchased are directly sold without its being credited to your Demat account.

Your total reliance is associated with the seller for their delivery of shares. If they fail to do so, then you could be charged with a penalty of 20% of the delivery value. Understand the risks associated and then opt for a BTST order type on Zerodha Kite.

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