Comment on Stop Loss orders - Limit/Market

Nithin Kamath commented on 04 Jun 2015, 07:26 PM

1. If the current value is below 100
You place a limit selling at 100. Product type is NRML since you want to hold it till expiry.
If you the current value is above 100
You place a SL-M selling with trigger price as 100. Product type is NRML. Because you want to sell at a price lesser than the current price, you have to use a trigger.

2. Yes to have a SL, you have to create another order now. It is best to create this order once the original order is executed.
Yes this will be a buying SL-M order with trigger price as 105.

To take a short position you just need one order as explained in point 1. But if you want to take a short and also place a stoploss order, it requires two.

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