What is day or IOC in Zerodha?

While placing the order through Kite, you might come across the term Validity in the order window. The term Validity means how much time your order will stay valid, completion of which it gets auto-cancelled.

“IOC” order helps and allows you to execute the order instantly, as soon as it goes to the exchange. Failing the instant execution the order will automatically be canceled by the system.

The validity type “Day” allows for keeping the order active until 3.30 p.m.(Market closing time). If the order does not get a match until the close of the market, gets auto-cancelled similar to an IOC order.