Greetings,
I’m new to trading and i have a doubt.
I was wondering if it was possible to use SL or SL-M orders for long and short orders of the same stock in intraday trade. Since the stock price reacts to news of the quarterly results either positively or negatively, its difficult to enter a position if you dont know how the price will react.
For example, Natco Pharma’s price surged from 940 to 960 in a minute of the news going public… Could i be able to place two orders i.e.
Buy order at a price near Resistance 1 at rs 955 to enter in a price surge as it happenend
Sell order at a price below support 1 at rs 920 in the event of a price drop, which didnt.
only the order where the price first hits will get executed, correct? I can cancel the order that doesnt get executed or just edit the same to exit the previous order.
And will I require a margin to cover both orders or only one? As in if i had to buy or sell 5 shares of Natcopharm, would 5k cover both orders or would i need 10k(Not considering leverage).
Yes, you can place 2 separate orders, a Buy SL order to buy above cmp and a Sell SL to sell below cmp. But you need to note that each of the two orders will block its own margin when they are placed and still open in the system, as they are independent of each other. Once one of the order executes, the margin for the other order will be released back into your account.
Place a Buy SL/SLM order with trigger = 955.
Place a Sell SL/SLM order with trigger = 920.
Yes, you can cancel the other order after the first one executes or you can also edit the order such that now it becomes a target order.
You’ll require twice the margin at the time of placing orders. Once one of the orders execute, margin for the other order will be released back into your account.
Can I place BO for buy and sell on same stock.Ex- Buy order at Support and Short order at resistance.??
Suppose I buy 10 quantity of Ongc through BO,at 161 Target is 162.5,
And again I put sell order through Bo at 162.5 with target 161.5…,
Is it possible, .?
