Can we set a target price trigger when we put an order in equity intraday trading along with stoploss trigger?
Such an order where you can put a target and stoploss at a same time is called a bracket order. Presently I guess Sharekhan provides it, you should get this facility at Zerodha also in the next couple of weeks.
Yeah. With bracket orders you can do that like peice of cake.
But bracket orders are market orders.
So if you want to fix the price of your buy or sell, you need to use normal limit orders.
This is what you have to do, in that case.
Place a Normal BUY Limit Order to Buy shares, (Margin will be blocked)
Once BUY order gets executed, place a target SELL LIMIT order, (for this no additional margin will be blocked, since you have already bought the shares)
Now, place a STOP LOSS sell order, either SL-L or SL-M. (For this again margin will be blocked).
If either your Target or your Stop Loss order executes, you need to manually cancel the other order. Your margin also will be restored.
After reading this, if you head spins, just stick to bracket orders lol
thanks…but are you sure about bracket order is being introduced in Zerodha in near future??
We have already announced it to the world, so we have to now I guess … http://zerodha.com/z-connect/zerodha/why-zerodha/zerodha-plan-of-action-fy-201415