If I change SL for BO after its executed will it still be trailing SL or it will get converted to normal SL?

General
1

Say Nifty is trading at 8300 and I put buy BO with target as 50 absolute points (i.e. 8350) and SL absolute 20 with trailing of absolute 5 points. After order is executed Nifty is now at 8320, so SL would be 8300. So can I manually modify SL to say 8310 and what would happen to SL if Nifty reaches to 8340? Will SL get changed to 8340 or 8330 or it will stay at 8310 ?

Please dont provide link to Z-Connect article, I have read it but still had this confusion so asked it here.

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2

I think modification won’t be work after TSL is trialed system will allow you to modify but it will take accordingly what you have mentioned stop loss initially that is where it is trialed,in this case your SL will seat at 8320 when nifty move towards to 8340.If you want to change your SL don’t give TSL.

3

When you use Bracket Orders and key in a Target and SL price (without trailing stop), you can modify your SL to any price you wish. However, if you add a trailing price to your SL, the way the system works is different. I've given three probable scenarios below:

1. Original order if you do not modify the SL price

Buy - 8320

original SL - 8300   /   trail - 5 points

In this case the SL will be modified for every 5 point raise from entry price to match the trail. So the SL will move to 8305, 8310, 8315, and so on...

If SL is modified above the original SL price:

SL - modified to 8310 from 8300

Note that trail cannot be modified

In this case, when Nifty goes to 8325 the SL will trail back to 8305. SL will not trail from the modified price, instead it will consider the original price (8300) and trail to 8305 and 8310 (again) and so forth.

If SL is modified below the original SL price:

SL - modified to 8290 from 8300

Note that trail cannot be modified

In this case, if Nifty falls to 8315 the SL will remain at 8290 which is the modified price. If Nifty continues to fall without bouncing back, the modified SL will be hit which is 8290.

If the stock starts moving up and in this case goes to 8325, then the SL will change automatically to 8305 considering the original SL and trigger.