Few questions about Stop Loss for CNC on Kite on Browser in Windows 10

Zerodha
1

Hi,

I use Kite on Browser on Windows 10 for delivery based buying & selling.
I have a few questions about the interface. Can someone help?

  1. I have purchased a stock for delivery. After purchasing it, can I place a stop loss? If so, how do I do it? For stocks, which have already been delivered, I see that I can go to Holdings & go to Options for the stock I am interested in & choose Exit & then do a sell order with a Stop Loss. But what about stocks which haven’t been delivered yet. I am buying for delivery, but if my stop loss price gets triggered even before it’s delivered, I want to sell it - is this possible?

  2. When I set a stop loss on a delivery stock (either while buying or later), is that stop loss only active for the day or is it good till cancelled? Current price is 100, I set a stop loss for 90, if it never goes down to 90 today, then will the stop loss get carried over till next day or do I have set it again next day?

  3. If I have a stock which is already delivered & shown in my holdings. Now I go to options for that stock & chose exit. Then I can either place a CNC Limit order for 90 or I can place a CNC SL order for 90. What is the difference?

  4. Do Stop Losses work even in the presence of Gaps? Let’s say current price is 100, & I place a CNC SL or SL-M order for 95. Let’s say the price jumps goes gap down to 94 without ever hitting 95, will my SL be triggered or not?

2

Read https://zerodha.com/z-connect/tradezerodha/kite/introducing-gtt-good-till-triggered-orders

1 Like
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@Siva2 USE GTT for Q1 and Q4, click here for more info.

SL and Limit are the order types. If you want to buy below the market price or sell above the market price, use the Limit order. But, if you want to buy above the market price or sell below the market price, use SL or SL-M. These orders are valid for a day.

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  1. If you buy a stock for delivery using SL or SL-M order type via CNC, it won’t be squared off.
  2. You’re allowed to sell the stocks the next day. So, you can use GTT to place overnight stop loss.
  3. Even in the case of the gap down, your SL or SL-M orders will be triggered.

I suggest you go through Zerodha’s official youtube videos on order placement.

1 Like
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Thank you.