Comment on Cover Orders - For Higher Leverage

Guc Rol commented on 03 Jan 2014, 07:06 PM

Hi Nithin, has this changed at all in 2013/2014? i.e. Say on a Buy CO, if I’m making a profit, can I increase the Sell SL to above my Avg. Buy Price?

e.g. if I buy ITC at market when the price is around ~312.00, the SL for the CO will be something like 309.00 or 308.00. But suppose the price of ITC goes to 316.00, can I change the Sell SL to 315.00 (above my Avg. Buy Price) thereby locking in the Rs. 3 profit? Or is the only way to square-off by manually clicking “Exit” on the SL in the Order Book?

Any help/clarification would be appreciated! 🙂

View the full comment thread »