Order validity determines how long your order stays active after it is placed. On the Samco app, you can set validity under Advanced Options on the order placement screen.
Day A Day order remains active until it is executed or until the market closes for the day. If the order is not filled by 3:30 PM, it is automatically cancelled. This is the default validity for most orders and works well when you are comfortable waiting for the market to reach your price during the session.
IOC (Immediate or Cancel) An IOC order must be executed immediately at the time of placement. If the full quantity cannot be filled right away, the unfilled portion is cancelled instantly and the order does not stay pending. IOC is useful when you want execution right now and do not want an open order sitting in the system. It is commonly used during high-volume trades or when dealing with illiquid stocks where partial fills are likely.
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