MIS (Intraday) is only allowed for FINNIFTY contracts with Open Interest (OI) of more than 20,000 quantities [500 (lots)*40 (lot size)]. To learn more about MIS, see What does CNC, MIS and NRML mean?
MIS orders will be blocked if the OI for any FINNIFTY contract is less than 20,000 quantities or 500 lots. However, exiting open positions will be allowed regardless of the OI restrictions. To learn more about OI, see What are Open interest limits?
When placing orders for such contracts, the following nudge will be displayed:
If the order is still placed, it will be rejected with the following error:
The OI for a particular F&O contract can be checked by clicking on the Market Depth icon. The OI will be displayed as quantities instead of lots.
