Cover order - Basic doubts

F&O
1

Hi All,

This might have been already answered here but couldn’t find in the forum.

Issue: Cover order execution

Doubt: If Nifty futures is trading at 15200 and I want to go long above 15225 with a stop loss of 60 points. In this regard how do I place my cover order to have a guaranteed execution above 15225.

I understand stop loss order is a market order and how to execute the main order with above set example.

Thanks in advance

2

Not possible. However, what you can do is, create a alert on Sentinel, once triggered, you will receive notification on Kite as well as your registered email, after that you can take position accordingly.

3

You can place SLM biy order on 15225. After that’s executed, you can place SLM sell order of (executed price -60) points.
You can read about SLM here and the alternative use for SLM : https://support.zerodha.com/category/trading-and-markets/margin-leverage-and-product-and-order-types/articles/what-are-stop-loss-orders-and-how-to-use-them