What is IOC in Zerodha Kite?

IOC stands for Immediate or Cancelled Orders in Zerodha Kite. IOC orders allow customers to buy or sell a security as soon as the order is published on the market. If no matching order is found, the order is automatically cancelled immediately.

If IOC orders are not matched, the system cancels unmatched orders and displays error 16388.

Example: You place an IOC order to buy 50 shares of XYZ at Rs 271. If a matching order for 30 shares is found at this price, the order for 30 shares will be executed immediately and the order for the remaining 20 shares will be automatically canceled. 

Steps to use the IOC function in Zerodha Kite:

1. Login to Zerodha Kite with your login credentials
2. Go to the MarketWatch screen
3. Select the stock you want to buy at a particular price.
4. Add the stock to the Watchlist
5. Click on the Buy option
6. Enter the Quantity of orders you want to buy and the price at which you want to buy the stock.
7. Scroll down to the "Validity" option, select the "IOC" option and click "Buy"
8. Once the order is placed, the quantity available at that price will be purchased, otherwise the order will be cancelled.