Place an MIS market order

Same call as chapter 44, product="MIS" instead of "CNC" — but the implications are different: leverage, and mandatory same-day closure.

order_id = kite.place_order(
    variety="regular",
    exchange="NSE",
    tradingsymbol="INFY",
    transaction_type="BUY",
    quantity=10,
    product="MIS",
    order_type="MARKET",
    validity="DAY",
)

MIS gives leverage — your margin requirement is lower than full value

# Check exact margin required before assuming your leverage multiplier
margin_info = kite.order_margins([{
    "exchange": "NSE", "tradingsymbol": "INFY", "transaction_type": "BUY",
    "variety": "regular", "product": "MIS", "order_type": "MARKET",
    "quantity": 10,
}])
print(margin_info[0]["total"])   # actual margin blocked, not full trade value

Never assume a fixed leverage ratio (e.g. "5x") in your sizing code — leverage varies by stock (based on volatility/liquidity categorization) and changes over time. Always check order_margins() for the actual figure before sizing (chapter 78).

Mandatory same-day square-off — not optional

Every MIS position will be closed by the broker's RMS near end of day (exact cutoff varies by broker, typically ~15-20 minutes before close) if you haven't closed it yourself. This is not a courtesy — it happens at whatever price is available, market order, no negotiation.

def is_past_mis_cutoff(cutoff_hour=15, cutoff_minute=15) -> bool:
    import datetime
    now = datetime.datetime.now()
    return (now.hour, now.minute) >= (cutoff_hour, cutoff_minute)

Your own square-off logic (chapter 70) should trigger comfortably before the broker's forced cutoff — treat the broker's auto-square-off as a last-resort safety net, never as your primary exit mechanism. Its execution price is out of your control.

Short selling — only valid intraday, via MIS

order_id = kite.place_order(
    variety="regular", exchange="NSE", tradingsymbol="INFY",
    transaction_type="SELL", quantity=10, product="MIS",
    order_type="MARKET", validity="DAY",
)

Selling first (going short) without holding the stock is only legal same -day via MIS — this is how retail short-selling actually works in Indian equity, since naked short selling isn't allowed to carry overnight.

Next: 049 — Place an MIS limit order