Using bracket order, I sell Tatasteel at Rs.515 with a target of 505 with a stoip loss (abslute) at Rs.2.50, and stop loss trial of absolute Re.1. After some time my position has moved to profits and LTP is 509. At this point is is possible for me modify stop loss to ensure that it triggers when LTP is 509. Also let me know how to modify the target price for a bracket order
Very detailed discussion is given here http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/bracket-orders-trailing-stoploss-sl
It is possible to modify the stop loss into profits zone. You can modify it close to current LTP to execute it immediately. Or you can move it slowly into profit zone, step by step when your profits keep of increasing, For this set a value not very close to LTP and your stop loss NOT trigger immediate.
However, Trialing stop loss value (trialing increments size) cannot be modified, I guess. Please check the link given above for more details.