Comment on Cover Orders - For Higher Leverage

Nithin Kamath commented on 19 Jul 2013, 09:53 AM

Mainak,

What you are asking for is a bracket order, where you can place both SL and exit order. If one gets executed, the other gets cancelled and both can be modified at anytime.
This is presently not available as bracket orders are considered as algos by the exchange.

In Cover order as mentioned above, you buy it at market and you have a preset SL in a range mentioned while placing cover order. Once this is done, you have to modify the pending SL by clicking exit which will sell again at market price. This would not suffice your requirement. CO will give you leverage of 20 times though.

Cheers,

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