MIS and Cover order are different trading products offered by Kotak Securities Neo. These products involve buying and selling of a stock on the same day.

MIS: With Margin Intraday Square off you can avail more leverage and your position will be auto-squared off before the market closes for the day. In case you do not square off your open MIS positions, and auto-square off charge will be applicable.

Cover order: It is an advance intraday order that lets you avail higher leverage and is accompanied by a compulsory stop loss order. This will help you minimize the losses by safeguarding yourself from unexpected market movements. In case you do not square off your open Cover order positions, your position will be auto-squared off before the market closes for the day and auto-square off charges will be applicable.