You can choose from three validity types when placing orders: Day, Immediate, and Minutes. Each validity type determines how long your order remains active in the market.
Day validity
Your orders placed with Day validity remain open for order matching until they execute or until the market closes. You can use Day validity for orders that you want to keep open throughout the trading session.
Immediate validity
Your orders placed with Immediate or Cancel (IOC) validity execute as soon as you place them into the market. If your order does not execute immediately, the system auto-cancels it and removes the order.
You can receive partial matches with IOC orders, and the system immediately cancels the unmatched portion. When your IOC orders do not get matched, you will see the error message: 16388: Unmatched orders cancelled by the system .
Minutes validity
Your orders placed with Minutes validity auto-cancel if they do not execute within a specific time period that you set in minutes. You cannot use Minutes validity in the BSE F&O (BFO) and MCX segments.
Did you know? You can use GTT (Good Till Triggered) to place long-standing target and stop-loss orders with a validity of 1 year on your holdings and positions. GTT can be used to place long-standing target and stop-loss orders with a validity of 1 year on the holdings and positions.