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
- Open the “Kite” application of Zerodha either on your smartphone or your computer.
- Once opened, then enter your login credentials with the correct password.
- 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.
- New orders can also be chosen to be ordered under the BTST format.
- Once selected for purchase, a “BUY ORDER” popup will appear.
- The entire procedure is similar. However, users will have to click on the CNC option for placing the order.
- After all, the order related data has been entered or selected, then click on “buy.”
- Right after clicking buy, all your details will be stored under “order details.”
- 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.
- Specify the criteria for selling the stocks and specify the stock order as CNC even while selling.
- 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.
Ask your query and our expert community would be happy to help
Discussion (0)
What is Bracket Order (BO) in Zerodha? How to Use them? Trading in the stock market is a pretentious task given the ups and downs it brings to the table. But for traders, brokerage firms have made life simpler and more comfortable to execute relevant trades more straightforwardly. For the same, we have Bracket Orders (BO) from leading stock brokers like Zerodha that helps in keeping a constant tab on the selling and buying of stocks on pre-determined specifications.
How to connect Zerodha Kite to excel? As Zerodha Kite is a mobile platform, you cannot connect it directly to Excel. To do so you will have to use Zerodha Pi, which is a web platform that runs on your PC. You can connect Pi to excel by following some basic steps.
What is Zerodha Cover Order? Zerodha offers a wide range of services and tools for traders and investors to make their trading experience as seamless as possible. For those wanting to know, What is Zerodha cover order? It's then a unique way to minimize the risk in intraday trading and maximize the profit that one might avail.
How to add all Nifty 50 stocks in Zerodha Kite? Zerodha is Indias largest discount broker in terms of the trading volume. Here you can create your own wishlist on the Kite application. The kite application is the trading terminal provided by Zerodha which is free to all its clients. The following steps can be followed to add the stocks to your watchlist.
What is IOC in Zerodha Kite? IOC simply stand for Immediate Or Cancel (IOC) orders. As you get more and more familiar with trading terms and slang, you might realize that each term is supposed to be linked with others, which form this sort of conjoined strategies. These strategies are usually what result in successful trading, rather than speculation.
What is SLM in Zerodha? SLM vs SL Orders If you are into stock trading, you might have often come across the abbrevations SLM and SL. So, here we'll be clarifying: What is SLM? What is SL? You'll also know the difference, SLM vs SL with examples.
Can I place a Stop Loss and Target order at the same time in Options and Futures? You can place a stop loss as well as a limit order together while trading in derivatives such as Futures and Options. To implement this you will have to maintain a sufficient margin for additional orders.
How to use stop loss in Zerodha? Putting Stop losses for any position is an essential step to ensure that no major losses occur if the view on the underlying goes wrong. You should always place a Stop Loss when trading Intraday or positional. You can use a stop loss in Zerodha by following some easy steps.
How to sell CNC shares in Zerodha? Zerodha is India’s largest and most trusted Stock broker with more than 3.4 million active users. Selling shares in CNC is very simple in Zerodha. To sell any share in CNC you must possess that stock in your Demat order to sell it in CNC. Learn how to sell your shares in detail.
What is GTT in Zerodha? Charges & How can I use it? GTT in Zerodha is an acronym for the Good Till Trigger feature offered by Zerodha that lets the investor select a trigger price and a set of predetermined conditions that as and when are met, an order is placed automatically.