query!!pls help!!

Hi!!
I want some help with put and call option...i trade with sharekhan..i would like to ask..
example: if i buy a lot of 50 of nifty 4500 @ 100...and it goes upto 150 the same day. can i square it off and book my profits? and will the profit be: 50*50= 2500/- ???
Also, wt do i select for intraday- GFD or IOC???
I will be =greatful if sumbody cud help...

Yes, you can square off on the same day and book your profits.

thx a ton for the reply bluguy!! wt validity do i use : Validity = GFD or IOC??

GFD -- that is Good For Day.
IOC - Stands for Immediate or Cancel i.e. immediate order execution i.e. say for eg.

Mkt at 4400. U say buy but mkt goes upo to 4500.
Now it comes back to 4400 the GFD will get executed. In case of IOC it will get cancelled and when market drops back to 4400 it not get executed.

thx mortaza..appreciate the help...

Regards,