Lots, Product Types & Validity
This page covers the final configuration options for each strategy leg — how many lots to trade and what order type to use.
Lot Sizing
Position sizes in Algo Architech are configured in Lots, not raw quantities. The engine automatically converts your lot count into exchange-compliant quantities.
How Lot Conversion Works
Each instrument has a fixed lot size defined by the exchange:
| Instrument | Lot Size | 1 Lot = | 2 Lots = |
|---|---|---|---|
| Nifty 50 | 25 | 25 units | 50 units |
| Bank Nifty | 15 | 15 units | 30 units |
| FinNifty | 25 | 25 units | 50 units |
| Sensex | 10 | 10 units | 20 units |
When you set Lots = 2 on Nifty, the engine places an order for 50 units (2 × 25).
Always think in lots, not quantities. The exchange enforces that orders must be in exact multiples of the lot size. Algo Architech handles this conversion automatically.
Product Types
The product type determines how your broker treats the position — specifically whether it must be closed by end-of-day or can be carried overnight.
MIS (Margin Intraday Square-off)
| Property | Detail |
|---|---|
| Full name | Margin Intraday Square-off |
| Duration | Must be squared off before market close |
| Margin required | ~50-80% lower than NRML (broker-dependent) |
| Auto-square-off | Broker automatically closes position if not exited by ~3:15 PM |
Best for: Intraday scalping and day-trading strategies that open and close within the same session.
If your strategy is still in a position at the broker’s auto-square-off time (~3:15 PM for most brokers), the broker will force-close your position at market price, potentially at an unfavorable price. Always ensure your strategy’s Time Window and Exit rules account for this.
NRML (Normal/Overnight)
| Property | Detail |
|---|---|
| Full name | Normal |
| Duration | Positions can be carried overnight and across sessions |
| Margin required | Full exchange-mandated margin (SPAN + Exposure) |
| Auto-square-off | None — position stays until you exit or expiry |
Best for: Swing strategies, positional trades, multi-day premium decay strategies.
CNC (Cash and Carry)
| Property | Detail |
|---|---|
| Full name | Cash and Carry |
| Duration | Delivery-based — for equity/futures |
| Margin required | Full payment (no leverage for equity) |
| Auto-square-off | None |
Best for: Equity delivery trades (not commonly used for options).
Choosing the Right Product Type
| Strategy Duration | Recommended Product |
|---|---|
| Intraday (open & close same day) | MIS — lower margin, must exit by 3:15 PM |
| Overnight / Multi-day | NRML — full margin, hold as long as needed |
| Equity delivery | CNC — full payment, no auto-square-off |
Configuration Per Leg
Each leg in the Position Builder has its own independent configuration:
┌─────────────────────────────────────────────────────────────┐
│ Leg 1: Buy │ CE │ ATM │ 2 Lots │ MIS │ Current Week │
│ Leg 2: Sell │ CE │ ATM+2│ 2 Lots │ MIS │ Current Week │
└─────────────────────────────────────────────────────────────┘All legs execute simultaneously when the entry signal fires.
Next Steps
With positions configured, learn how to manage them dynamically when market conditions change:
→ Next: Adjustment Rules Overview