Gap up/down: what happens to stop loss limit(SL-L) order?

General
1

Ex: NIFTY

If i go long at 8600 with target at 8620 and stoploss limit order(SL-L) at 8595 on  day "T" during market hours only(not AMO, product type: NRML).

If markets open on T+1 th day at 8580(A gap down), then what happens to my stoploss?

Will my stoploss order would be executedat specified price??

Would order size matter(say 30 lots) for my order filling?

2

Your order will be closed on T day if SL-L is not satisfied. There will be no pending order for T+1 Day.

3

oh…ok…
I am swing trader who holds on to the positions for weeks before exiting them.
Do i have to place the new stoploss order on every day?
what is the good order type to protect my profits or to limit the losses?

4

You will have to place SL orders everyday. If you want you can semi-automate this, by writing scripts(I don’t have much experience in this). Use Trailing SL every morning, that should be good for you.