Order Type

Day Order — Definition & Example

An order that automatically expires at the end of the current trading session if not filled.

Day orders are the default at most brokers. They are active during regular trading hours and cancelled automatically at the close. Useful for intraday setups where carrying the order overnight doesn't fit the strategy. Always confirm whether your broker's default is day or GTC — getting this wrong has caused many "phantom fills" the next morning.

Example

You place a day-order buy limit at ₹495 for a stock currently at ₹500. By close it hadn't reached ₹495. The order auto-cancels. The next day if the stock drops to ₹495, no fill occurs.

Related

GTC (Good-Till-Cancelled)Limit OrderIOC (Immediate-Or-Cancel)

See day order in your own trades

Upload your tradebook — TradeSaath calculates this automatically.

Try it free →