Zerodha Kite allows you to sell shares either at market order or by placing stop loss. The order will be executed at the best available price.
Zerodha is India’s leading stockbroker. It has more than 1 crore users at present. It offers low-commission services to invest in stocks, direct mutual funds, IPOs, equities, currencies, and commodities.
Zerodha Kite
Zerodha Kite is an online trading platform developed by Zerodha to meet the needs of all types of investors, utilizing cutting-edge technology. The platforms provide a number of tools, such as charting tools, data widgets etc., to make trading simple and quick.
Today we see how to sell shares in Zerodha Kite app but before that, there are a few terms that must be known to you.
Important terms related to placing a sell order in Zerodha Kite
1.Quantity: You can specify a minimum of 1 and a maximum of the total number of shares available.
2.CNC: Cash and Carry is an order type used for delivery-based equity trading (for long term).
3.MIS: Margin Intraday Square Off is used for trading intraday equity, intraday F&O, and intraday commodities. If the investor or trader doesn’t square off (exit), their positions will be automatically squared off.
4.Market: The order will be executed at current best available price. It can be less or more than the current price.
5.SL-M order (Stop-Loss Market): You set only the trigger price and the order gets executed at the market price. The trigger price should be less than the current price and the Price should be less than the Trigger price.
6. SSL order (Stop-Loss Limit): You set a Trigger price and the Price, and your order will be executed between the Trigger price and the Price.
7.Limit: Let’s suppose your share is trading at Rs 95 and you want to sell it at Rs 100. Then you can place a limit of Rs 100
8.RGLR: Regular order is one that is executed anytime the set price will match otherwise it will be canceled after 3:30 PM.
9. Bo and CO: For intraday orders, bracket orders and cover orders are used.
10. AMO: After Market Orders are orders that can be placed after 3:45 PM and before 3:45 AM on the NSE and before 3:45 AM on the BSE, respectively. AMO can’t be placed during market hours.
11. Day and IOC: If you choose the Day, your order will be valid for one day (until 3:30 PM). If you choose IOC (Immediate or Cancel), your order will be executed immediately or canceled if the price doesn’t match.
12. Disc. Qty.: You can set this to disclose to other people. The minimum is 10% of the total quantity and the maximum is the total quantity.
How to sell shares in Zerodha Kite app?
Step 1: Login into your Zerodha app
Step 2: Click on “Portfolio,” and then on “Positions”.
Step 3: Click on the share you want to sell and then click on “Exit”.
Step 4: Enter the quantity in the “Quantity” section.
Step 5: Select CNC.
Step6: Now select “Market” or “Limit” or “SL” or “SLM” and accordingly set the trigger price and price.
Step7: Select “RGLR” if you are selling within market orders or AMO, after market hours.
Step8: Set Disc. Qty. (minimum 10%)
Step 9: Swipe the sell option and your shares will be sold according to the available price and options you have selected.
The process of selling shares in Zerodha Kite is very easy. If you are still unable to sell your shares then given below are some possible reasons for it:
- You have Insufficient margin.
- You must have selected the wrong type of order or incorrect combination.
- The stock group must have changed.
- Scrip is unavailable for trading.
The reason is mentioned after you swipe to sell. If it shows sold or submitted then the sell order is placed. Otherwise the reason for rejection will be displayed. Thus, be very careful else you will lose the opportunity. It will especially hurt a lot in case of intra day orders.
Sell shares in Zerodha Kite App
Zerodha does not charge a fee for equity delivery investments, but there are a few other charges, including stamp duty, exchange transaction charges, and DP charges of Rs. 13.5 (+ 18% GST) per day per order regardless of quantity. Additionally, you are also obligated to pay capital gains taxes .