Stop Loss Order for BankNifty Options

F&O
1

May be due to volatility of Bank Nifty, Bracket BO orders are not allowed.

Then in a scenario like below:

  1. I buy a Call say of 27800 at 240 price.
  2. Is there a way I can set up a Sell order for the above at Pt(1), combining below conditions( in a Single Sell Order):
    –if Call price goes up to my target 250, execute it
    –if Call price falls to (my Stop Loss) 230, execute it.

May be I am not aware of, if such feature exists.
Thanks DNRAO

2

I think both cannot be done together, you need to put either target or stop loss

3

Put a sell order in same order type (MIS / NRML) with limit price.

Put a SL order in same order type (MIS / NRML) with limit price.

Note : If any of them is executed, you have to cancel other one manually.

4

does this work ? have u tried already?

5

Yes, it does.

Yes, And I have paid the price not canceling the sell order too :expressionless:

6

@Newbie420 yaa both can not be done, Thanks
@shravan40 I will try, but I dont think one can have two orders on same. But I have tried BO on Nifty50Options, and it works fine, although SL gets activated quickly…Thanks

7

This can be done as has been explained by @shravan40 but it is not recommended because many hedge funds, HFT traders, algo traders can exploit such pending orders and may predict the market better at your expense. It is best to follow the market and enter your order when the price has reached you target or stop loss. Also by having such orders, you may miss higher profit. If at all you want to do it, just put stop loss order.

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