How to set stoploss and target for an AMO/GTT order?

Zerodha
1

I guess the caption makes the question obvious, and it has been asked on this forum previously here, but without an answer as far as I can tell.

So as an example, suppose that at around 11:05 PM on 21-Sep-2020, I am trying to place an after-market order (AMO) to buy a lot (75) contracts of NIFTY SEP 11500 PE when the price drops below the closing price of 290.4 by a little bit (but this is not essential, I am okay to buy at the price that the market opens up at on 22-Sep-2020 as well).

However, I would also like to set a stoploss for this buy once executed: sell the contract if the price drops below 10% of the currentl market price (CMP) and a target: sell the contract if the price rises by more than 10% from the CMP.

Now, during the day, I would be able to do this by placing a “Regular” order:

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However, on clicking “Buy”, Kite tells me this:

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So, I duly try to place this order as AMO, but then the option to specify a stoploss which is GTT or a target which is GTT is no longer there:

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Similarly, when trying to set up this order from the GTT screen, it allows me even fewer options (I can only offer a limit price, not a market price):

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Is there any option to place an order like the one above after market hours?

2

If you want to place Stoploss and Target orders for overnight positions then you will have to use GTT.

GTT is not available for AMO yet.

You can keep some difference between Trigger and Price so it acts like Market Order.

Eg. You bought Option at 100 and want to keep Stoploss of 75, what you can do is enter Trigger as 75 and Price as 70, whenever your GTT is triggered in between this range your order will get executed at best available price in the market.

3

@ShubhS9, thanks for your response.

So, basically you are confirming that when placing the order through the GTT screen, I cannot put a stoploss or target? You have already confirmed that this is not possible through the AMO screen. Basically, I would have to wait for the order to get executed the next day, and then place an OCO order.

Thanks again.

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4

You can place GTT Sell OCO order once you have placed AMO Buy order.

This will be better option as you will know at what price your AMO gets executed as you have mentioned above you are ready to take position using AMO at any price.

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