Comment on Bracket Orders & Trailing Stoploss (SL)

Suresh Vasudev commented on 08 Jun 2014, 10:59 AM

I have a question related to BO , but I have not received a convincing answer from the support team. So I am posting it here as it will be informative to others also .

Assume that I placed a BO for Nifty as follows : Buy NIFTY at 7580, SL at 7500 and Sell at 7650 with a TSL of say 25 Absolute. Assume that the trade got executed and current price is 7625. The trade is not yet closed as my target is 7650.

Now my analysis tool give me a Sell Signal for Nifty and I want to place another BO: Sell NIFTY at 7625, SL at 7675 and Sell at 7550 with a TSL of say 25 Absolute. Does this order will be a new order or whether it will square off the previous order ?

The Ideal case I am looking for there will be 2 Orders : One Buy Nifty and One Sell Nifty? is that the case?
Or the second order will be treated as a Square off of first order?

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