Comment on Stop Loss orders - Limit/Market

ethicaldeal commented on 13 Nov 2013, 06:51 PM

dear zerodha

If I want to SHORT SELL 3 lots of NIFTY at a price ,say 6100 (assuming the SPAN Margin required for NRML transaction is 75000 and total money in my trading account is 90,000), then I would first press F2 and enter a NRML SELL order for 150 quantity. Assume the order is currently not executed (now the price is at 6130 for example) and it is an Open order.
Question 1
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Now, I also want to simultaneously place a BUY 3 lots of NIFTY at 6190, so can I place a BUY order now itself or would the system reject saying that I need to have another 75000 to place this BUY order ?

Question 2
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From one of your previous explanations, I did understand that as soon as a short sell is executed (as above), then the system will allow me to place 2 exit orders simultaneously (i.e. 1 after the other within a couple of seconds difference only), one the Target BUY order and the other is the Stop Loss. The system would not say that I need another 75,000 to place the second exit order (i.e. the Stop Loss) , is that understanding correct?

Kindly guide me here.

Thanks
EthicalDeal

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