Very recently Zerodha, India’s largest discount stock broker, has come up with their Zerodha Kite 3 App. It was a much-awaited app that traders were waiting for. Zerodha has given a beta demo to the existing users for a long time so that the users get familiar with the app before the final app is launched and fully functional.
Still, if you log in to Zerodha Kite, the old kite application will launch at the address kite.zerodha.com. So now if you want to access the Zerodha Kite 3 App, you need to login to kite3.zerodha.com. Once the full beta testing is over, the new Kite will be available at the old web address.
How To Login To Zerodha Kite 3 App?
Once you visit kite3.zerodha.com the new Kite login screen will open. The advantage over the old application is that it can store your password and user id, so you need not enter them again and again.
Just like the old app, in the new app too, the user needs to enter the answers to the 2-factor Authorization questions to make the login process secure. Now let’s check how to use the new Zerodha Kite 3 app.
After opening the account the first thing you see is the dashboard. The dashboard is the overall presentation of your account. The quantity of your margin, available margin, your profit-loss measurement, overall brief detail will be shown in the dashboard.
The left side of your dashboard page, you can find a window, called the market watch window. This is where you add your favorite stocks and instruments you want to monitor.
In the search box, you can search for any stock on any exchange here. For example, type: infy NSE to find the Infosys stock. Once you’ve found it, click on the ‘+’ to add it to the MarketWatch or just simply click on the script name. The script will be automatically added in the market watch window.
You can customize the display of items in the MarketWatch here. For example, sorting the entries, hiding and showing certain values etc.
You have 5 different MarketWatch views here that you can toggle. Each can have up to 20 entries. Therefore, overall you can add 100 scripts altogether.
Now that you have added a stock to your MarketWatch, hover over it to buy, sell, and perform other actions like viewing market information or opening a chart.
As you can see in the picture that besides holding option, you will find the position. It shows the current position of your account. From the position, you can modify your script. Suppose you enter in intraday and sometime later you want to change the order from intraday to cash and carry or delivery. You can change it through the position.
For trading, you need to add funds to your account. For that, you can click the fund option. There you can get ADD funds and withdraw fund. By using this option you can or withdraw funds. You need to have internet banking for easy access. Apart from this, you can do the transaction through NEFT.
This is where you can buy and sell stocks. You can choose the desired quantity, price etc. and place the order, which is instantly sent to the exchange. For more information, refer to the user manual.
Toggle between a buy and sell order by clicking the toggle switch.
Once you toggle between the buy and sell orders, you can identify the different order windows using different colors. The buy order window will be of blue color while the sell order window will be of orange color.
There are several advanced options that you can use when buying and selling stocks. Different types of orders like intraday, cash and carry, bracket order, cover order, aftermarket order etc are available in this site. If you want to buy and sell any script in a single day, use intraday or MIS option. In case, you want to hold your script, use cash and carry option. For more information, refer to the user manual.
The market depth shows you the current bids and offers for an instrument in the stock market. The dynamic bar shows the volume at a particular price point. Clicking on it lets you quickly place an order at that price. In the market depth window, you can get five best bid price and offer price along with OHLC (open high low close) price movements. If you want to know more details, you can check one of our articles on that.
Like the old app, in new Zerodha Kite 3 app too, the charts can be accessed from the CHARTS BUTTON if you hover your mouse over the instrument name on the market watch. You can pop out a chart to make it full screen. While the chart is in full-screen mode, you can click on the icon in the extreme top left to toggle the quick-trade panel. The panel shows your orders, positions, and real-time market depth for the instrument and lets you trade without leaving the charting window.
There is a STUDIES section on the charts. You can explore the available charting and analysis tools, and customization options here. In the chart option, you can use drawing facilities, information. There are hundreds of indicators and oscillators and available. Time changing option also available there. You can set your chart timings according to your wish. From 5 min to 1 months, varieties of options are there. As you can see in the attached image that besides time, there are views, display, studies, layout options. If you want to add or delete any indicators or oscillators, you can simply add them from the study and delete them by clicking the cross option. The pen indicates drawing facility. There are many tools there.
So we have discussed what’s new in Zerodha Kite 3 app. The other sections like the HOLDINGS, POSITIONS, FUNDS are same as the old Kite. However, if you need further information on using the new app, you can comment your questions below.