What is MIS+ Order in Espresso Sharekhan?

MIS+ order in Espresso Sharekhan is a feature to place a market order or limit order along with a stop-loss order. Customers can use MIS+ orders to take an intraday position in cash and equity Futures & options (F&O) segments. Thus MIS+ Buy or sell that is placed simultaneously with a stop-loss order prevents losses. MIS+ is an intraday product and users must close all open positions the same day otherwise positions will be automatically squared off after 3 PM at Rs. 50 per order auto-square off charges.