Buy or sell order executed other order will automatically cancel do you have any idea

#1

I have one question. For ex. ABC stock I will put buy order and sell order both order placed with stoploss, target. If the order executed either buy or sell order, other order will automatically can able to cancel do you have any idea.
Please help me out

#2

No, the other won’t automatically cancel out. Check out varsity before placing trades.

#3

You can use BO order where you can enter a new position along with a target/exit and a stop loss order. As soon as the main order is executed the system will place two more orders (profit taking and stop loss). When one of the two orders (profit taking or stop loss) gets executed, the other order will get cancelled automatically. Bracket orders are essentially algo orders.