I put a SL-M order to buy a stock at 100, in CNC mode at 9.16 am. Now the order got executed at 9.25 am, so I put a limit sell order for 110, and it was well taken. Now when I put a SLM or SL order for 95, the orderbook rejected it saying " rms:rule: check holdings ,no holdings present for entity account-ddXXXX across exchange across segment across product". I did not understand the logic for rejection. Can someone please explain? I have used CNC mode for all orders.
One cannot place a target and stoploss at the same time for their CNC position. You can either place a target or a stoploss. This is because if you were allowed to place a target as well as a stoploss for the same CNC position and your target was executed, then your CNC position is already sold out. But the CNC stoploss order will remain open in the orderbook and if it gets executed too, then this will become a new CNC sell trade without actually having the holding in your account. It will lead to short delivery and an auction penalty.
If you intend to trade this position for intraday only, then you could keep a stoploss only and then if your target is achieved, cancel your stoploss and exit by placing a target.
Thanks @Srinivas that was a great explanation. I am not looking for intraday but for 10-12 days trading. So in that case can I do this - enter using MIS orders (SLM buy, Limit Sell and SLM sell) and if my target is not achieved I convert it into CNC before 3.20pm and then start again by converting it into MIS next day. Can I do that ?
Once you buy in CNC, it goes into your holdings. And you cannot convert a holding into MIS. Maybe you can just trail your holding with a stoploss and then when you see your target price, cancel your stoploss and exit your holding.
Okay what about two stoploss orders(SL-M) on the same script in CNC position.
I understood that we can’t mixup SL-M and LIMIT orders on the same stock as LIMIT order will be sent to exchange immediately for execution and other SL-M order is waiting for trigger.
But why can’t I place two SL-M orders on the same stock in CNC position? Anyway both these orders were waiting for triggers and when one trigger is achieved then cancel other orders and send the order which breached the trigger to exchange for execution.
Re bhai aapko Stop Loss aur Target order deni hai?
ie SL and limit.
Ye do=do SL wali baat kaha se aa gayi?
You mean to say. I need to keep on watching my target all market hours!!!. Why don’t we have new order type i.e exit my position outside a range price i.e( Exit 90 or below OR 110 or above) in a single order
How can I place stoploss in CNC
Lets say i have bought stock of company A at 100 rs per share. Currently the stock is at rs. 120 after 10 days. Now i want to put a kind of bracket order where i want to set a limit price of 130 and stoploss at 110 to be able to book some profits in case things go south. How can i do that in kite ?
I have tried to trigger a sell SL order by keeping a limit price of 130 and Trigger price of 110 but it does not work.
@Srinivas if we buy shares in cnc then we have to hold it overnight i mean we cannot exit on the same day we buy in cnc. AM i right?
If we can exit with a target and stop loss whats the way?