Buying and selling of stock within the same trading day for earning profits by harnessing the movement of stock indices.
The trader purchases the stocks not to invest but to earn profit by harnessing the movement of stock indices. Thus, the trader need to monitor the fluctuation in the prices of the share to earn profits.
Example :
A trader places the MIS order to buys 100 Reliance shares for Rs 1000 each in the morning after 9.15 and sell those before 3.30 same day.