Bracket Order on existing MIS trade

Zerodha Zerodha platforms
1

Hello,

I’m a Kite user on web & android version.

I use SL or SL/M order to execute MIS orders of Equity to BUY at prices higher then LTP. Because in BO it’s not possible to do so.

Once MIS order is executed, Is it possible to place BO for balance available? For example I have already bought ABB say at 1000 & LTP is 995, now instead of putting separate SL (990) & Target (1010) orders, is it possible to place BO for same?

Regards,

2

BO with SL entry is available on Kite 3. Check the user manual for more
https://kite.trade/docs/kite/orders/#advanced-order-types

3

That’s Great…
Thanks @Bhuvan for sharing.

4

@Bhuvan One question remains…

If I already have a position, can I put exit bracket order? i.e. inter-connected SL & Target orders?
If yes, does it require extra margin?

Regards,

5

You cannot use the SL and target component of a bracket order separately for a different order.

6

Hi Bhuvanesh,

No, No… I don’t want to do that…

What I’m looking for is…
I’ve already taken MIS position for a script using a REGULAR order. Now, can I place a BO for that position? Actually, when I tried to do so, BO order was getting rejected giving reason of ‘insufficient fund’.

7

You can.

That means you have the required funds to take the position. You can learn more about placing a brack order order here Orders - Kite User Manual.

8

OK, thanks… Bhuvanesh… That clears my doubts…

Now, I need to experiment regarding Margins… by placing two orders…

  1. Take MIS position with regular order & then place BO order for that.
  2. Place BO order directly for same script & qty.

Actually, addition of BO with SL was biggest relief. Also the possibility of placing BO for existing positions. I’m not sure weather it was there or not in earlier version prior to Kite3.

Thanks Again,
Good Luck.