How set Target and Stoploss in web and kite?

Zerodha Zerodha platforms
1

While doing Options Intraday trading (MIS), how can I place target price and stop loss order at the same time after buying an option (CE/PE)?

I want to keep both target and stop loss levels immediately after taking a position. Please explain the correct process.

2

Currently, it isn’t possible to place both a target and a stop-loss order simultaneously for an MIS position, as the second exit order requires additional margin.

As an alternative, you can use a GTT OCO (One Cancels the Other) order, which allows you to set both the target and stop-loss together. We’ve also recently introduced Trailing Stop-loss support for GTT orders.

3

thank sir for reply

GTT can we use for MIS sir? (if i have backup free cash (double))

Can we setup both target and stop loss?

imagine if i have nifty 25500 my target is 25650 ( this will i put target in position)
for stop loss if i have extra margin can place stop to 25400?

if nifty hit 25400 position will exit or what happens?

4

GTT isn’t available for MIS (intraday) positions, even if you have additional free cash or margin. It is supported only for CNC, MTF, and NRML positions.

If you’re using NRML, you can place a (OCO) GTT with both a target and a stop-loss. In your example, if your entry is at 25,500, target at 25,650, and stop-loss at 25,400, then:

  • If the price reaches 25,650 first, the target order is triggered and the stop-loss is automatically cancelled.
  • If the price falls to 25,400 first, the stop-loss order is triggered (subject to execution), and the target is automatically cancelled.

So, only one of the two orders can execute.

GTT on MIS positions is something we’re working on.

5

thank for reply sir

“Yes, having this OCO GTT facility for intraday (MIS) trades would be extremely helpful. Please roll out this feature as soon as possible, as it would greatly assist us with risk management during intraday trading.”