So here’s what I’m saying - Suppose A stock is at 100. Now, I want to buy one share of this stock at the market price right now in CNC mode and for selling I would like to sell it for 10 rs. profit if the share price increases or 2 rs. Loss if it decreases. Which ever happens first. If any of the sell order is hit then I will cancel the other one. Basically, I’m trying nothing but a manual bracket order in cnc
So how do I do it ? I tried placing two separate orders. One, a limit sell order at 110 and other a slm sell order with trigger at 98. But it’s getting rejected. It says check holdings, No holdings present.
Now I understand what that error means but is there any other way to do what I’m trying?
If you use MIS for SL-m or for your limit sell order then it should no longer be a problem
You can place CNC sell order unless u have that much qty in your account. (I.e. u can’t short sell in CNC). But u can do the same in MIS
I get it but shouldn’t there be any option like it. I mean it’s only natural for someone to think like this - Stock at 100. Okay let’s Buy. And then sell at 110, but if goes against me then give me a 2 rs. loss and sell at 98. Not wanting to short actually just placing sell order for both the case i.e. the stock price going in or against my desirable direction. Placing a target and stop loss just like in bo orders.
Didn’t understand what you’re saying
Use MIS order instead of CNC.
He means to say that , after he has bought stocks@ ₹100(CnC), he wants to place two Sell Orders…One for a target of ₹110 and another for Stoploss of ₹98…He wants these orders to be Valid until executed…whether it gets executed today,next day,next week,next year…whatever…Am I correct Alok ?
Spot on mate. That’s what I meant
What you have described is essentially an algo order and is not possible on Kite presently. We don’t plan on implementing this feature anytime soon. However, we are working on GTC/GTD orders, where you can place a target or stop loss order.
In the meanwhile as an alternative, you can use Sentinel baskets for this. Just set alerts for both target and SL and link it to a basket order to create a pseudo bracket order.