Its easy to place orders on INFINI WEB's user friendly interface. After logging in to your account, you will see the market watch screen. Here you will find all the scrips you have added to monitor. when you hover over a scrip, you can see buttons attached to each scrip - I,M,B,S and Delete. The 'B and 'S' buttons are for buy and sell respectively.
On click of 'B' for a scrip you will see the Buy order form. Here you can place your desired order by using the options.
On The Header of the form you will see the side, exchange name, scrip name and the Live trading price.
- Complexity drop down offers options for placing a simple order, AMO order and a Cover order
Simple Order: Plain order. No complexity attached.
After Marker Order: These order allows you to place an order for stocks beyond market hours. The orders get queued up and sent out once the markets open the following day
Cover Order: A Cover Order is a market or limit order that is placed along with a Stop Loss Order. In a Cover Order the buy/sell order is always accompanied with a compulsory Stop Loss order, in a specified range as pre-defined by the system. These orders give you higher leverage by ensuring that you place a stop loss. This is beneficial only for intra-day trades. Generally the cover orders give you more leverage than MIS (intra day product type and you require up to 50% less margin for trading.
- Order Type drop down lets you choose from Limit, Market, SL Limit, SL Market
Limit order: A limit order lets you place an order to buy/sell at a specified price. A limit order to buy can only be executed at the specified limit price or lower. Conversely, A limit order to sell will be executed at the specified limit price or higher.
Market: A market order is a buy/sell order to be executed immediately at current market prices.
Stop Loss Limit: This is an order placed to sell a security when it reaches a certain price called trigger price. A stop-loss order is designed to limit an investor's loss on a position in a security. In this you need to give both limit price and trigger price.
Stop Loss Market: A stop loss market order is a type of stop loss order where the final order generated after the trigger price is a market order. While entering the stop loss market order, since the order to be traded is a market order one needs to give just the trigger price.
- Product drop down lets you select from the products we offer- NRML, MIS, CNC.
MIS: (Margin intra-day square off) applies to all intra-day positions you take while trading Equities (cash)/Equity Derivatives/Commodities and currency derivative.If you do not square off the positions taken under MIS on the same day, the system will automatically sqaures off the same 30 min before closing of market hours.
CNC: (Cash and Carry) It is aplicable only while trading equity (cash) for delivery. No leverage is given under this product.
NRML: (Normal Product) It is applicable while trading Equities (cash)/Equity Derivatives/Commodities and currency derivative.
Note that MIS & CO are intra-day product while CNC and NRML are delivery/carry forward product codes.
Following are the leverages provided under each product code:
- TIF (Time in Force) has options Day and IOC (Immediate or Cancel)
Day: A Day order is canceled if it does not execute by the close of the trading day. Unless otherwise specified, every order is a Day order.
IOC: Any portion of an Immediate-or-Cancel order that is not filled as soon as it becomes available in the market is canceled.
Apart from this the form has fields Quantity, Price, Trigger Price and Disclosed Quantity.
All orders can be found in the order book under Trading tab. As long as the order is not in 'complete' status, you can modify or cancel your order using the buttons corresponding to the orders in open or trigger pending status in order book.
Detailed order book entry can be viewed by clicking on the Order ID hyperlink.
The different status for order are: open, rejected, trigger pending and completed
All orders in completed status can be found in the holdings tab and Positions can be found under the positions tab
You can square-off your position using the SQ button corresponding to the scrip in your holding.
Click on the 'S' button to open Sell order form. It is similar to the Buy order form. You can open any order form and use the radio button at the bottom of the form to change the side to sell/buy.