When placing an order, you need to select a product type. This tells the system how you intend to hold the position.
Intraday Intraday is for traders who want to buy and sell within the same trading day. If you do not square off your Intraday position before 3:15 PM, the Samco system will automatically close it at the prevailing market price. Intraday trades do not result in actual delivery of shares to your Demat account.
Delivery Delivery is for investors who want to buy stocks and hold them in their Demat account. There is no auto square-off for Delivery positions, you can hold the stock for days, months, or years. When you sell a Delivery position, the shares are debited from your Demat account.
Overnight Overnight is used for F&O (Futures & Options) positions that you want to carry to the next trading day. Unlike Intraday, Overnight positions are not squared off at the end of the trading day. You can hold an Overnight position until the contract’s expiry date. Make sure you maintain the applicable margin in your account for as long as you hold the position.
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