Per this blog, it says we could modify the MIS order to CNC. Lets say below is the flow
12:00 MIS | BUY | 10 shares @ 10 Rs, here all 10 got purchased and are in my account 13:20 MIS | SELL | 10 shares @ 12 Rs, order is placed, but is on hold 14:45 MIS | only 5 got matrialzied and another 5 dint get fullfilled, only partial sell 15:00 MIS | since purchase of 5 shares are still not sold, these I would like to continue next day and change the order type to CNC
Q: how am i able to convert the purchase of 10 shares and out of which only 5 shares got modified to CNC. Does simply modifiying the the order by using order_id of API of the initial purchase order is sufficient to update the order type from MIS to CNC.
Q: Is the order_id the same to be used when modifying because i am guessing the even tough the order qty was 10 now its changed to 5. Does the order when pulled from order api lists the purchased order with updated qty from 10 to 5 with same order_id ?
Q: if converted then the brokerage if sold later will be calculated including the day when the order product got modified or from the next day (T + 1 )onwards since supposingly the modification api call got executed on 15:00 hours on day T.
Q: what will the validity and position type values as such in API call, to be used before and after the order modification
Pls ignore the above question no 3 related to brokerage. What I meant was,
Q: once the order got modified to CNC, then for those 5 qty of stocks will be applied the delivery brokerage instead of intraday when ever the 5 qty order gets sold.
12:00 MIS | BUY | 10 shares @ 10 Rs, here all 10 got purchased and are in my account 13:20 MIS | SELL | 10 shares @ 12 Rs, order is placed, but is on hold 14:45 MIS | only 5 got matrialzied and another 5 dint get fullfilled, only partial sell 15:00 MIS | since purchase of 5 shares are still not sold, these I would like to continue next day and change the order type to CNC
Kite allows convert position based on positions only, not based on order or trades. Check out API for position conversion here.
In this scenario, you can convert position wherein, you need to send quantity as 5 and you must have enough margin.
At the same time, you need to cancel your open order. If you leave it open, it might get executed then you will end up opening MIS position.
Q: once the order got modified to CNC, then for those 5 qty of stocks will be applied the delivery brokerage instead of intraday whenever the 5 qty order gets sold.
You will be paying intra-day brokerage for first order and CNC for the second one.
Q: what will the validity and position type values as such in API call, to be used before and after the order modification
End of the day, you will have two positions, one with MIS which will be closed and one more with CNC. Orderbook will have two orders, one with status complete and another with status canceled and partially filled.
SCENARIO - 1
-------------------------
http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/zt-position-conversion
Per this blog, it says we could modify the MIS order to CNC. Lets say below is the flow
12:00 MIS | BUY | 10 shares @ 10 Rs, here all 10 got purchased and are in my account
13:20 MIS | SELL | 10 shares @ 12 Rs, order is placed, but is on hold
14:45 MIS | only 5 got matrialzied and another 5 dint get fullfilled, only partial sell
15:00 MIS | since purchase of 5 shares are still not sold, these I would like to continue next day and change the order type to CNC
Q: how am i able to convert the purchase of 10 shares and out of which only 5 shares got modified to CNC. Does simply modifiying the the order by using order_id of API of the initial purchase order is sufficient to update the order type from MIS to CNC.
Q: Is the order_id the same to be used when modifying because i am guessing the even tough the order qty was 10 now its changed to 5. Does the order when pulled from order api lists the purchased order with updated qty from 10 to 5 with same order_id ?
Q: if converted then the brokerage if sold later will be calculated including the day when the order product got modified or from the next day (T + 1 )onwards since supposingly the modification api call got executed on 15:00 hours on day T.
Q: what will the validity and position type values as such in API call, to be used before and after the order modification
Scenario 1
--------------------
Pls ignore the above question no 3 related to brokerage. What I meant was,
Q: once the order got modified to CNC, then for those 5 qty of stocks will be applied the delivery brokerage instead of intraday when ever the 5 qty order gets sold.
In this scenario, you can convert position wherein, you need to send quantity as 5 and you must have enough margin.
At the same time, you need to cancel your open order. If you leave it open, it might get executed then you will end up opening MIS position. You will be paying intra-day brokerage for first order and CNC for the second one. End of the day, you will have two positions, one with MIS which will be closed and one more with CNC. Orderbook will have two orders, one with status complete and another with status canceled and partially filled.
I dint get full clarity and hence formatted the flow of events in an excel sheet. Pls find link
https://drive.google.com/file/d/0BxMF7D0F0ED-cEVudjhMVlJQS1U/view?usp=sharing
In case of any further discussion, is it possible to discuss offline through call or mail. Pls let know.
You can private message me.