Comment on Quarterly settlement of funds & securities

Arpan Mitra commented on 24 Jul 2018, 06:57 PM

Hi Zerodha Team,

Please help me clear the understanding on Cover order.

When I place a cover order for a stock say SAIL to buy at 800 quantity at Rs. 72.45, along with this a Stop Loss order also gets raised say suppose the stop loss price is automatically taken by the system as 71. Now the buy order gets completed at 72.45.
Now I place the sell order at 73 for SAIL. In the mean time if the current market price falls to 71 at first i.e the stop loss price and then after a while or before the 3:20 PM, the current market price goes to 73 or more, what will happen ?
Will I suffer loss by selling at 71 or I will get profit at 73 ?

Please clear what will happen

View the full comment thread »