In cover order,first leg buy is executed at 10 rs,trigger price is 9 rs

I place another order sell my target-11 rs,so the market goes above and hit target,my target is Executed,

Then market goes down hit 9

My question is 1)is Cover order stop loss (trigger price)-9 is execute or not?

2)or It will cancel automatically my target is achieved,

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Hi,

The only option to exit a Cover Order is at Market Price when your target is achieved. Once First Leg of CO is already executed, the SL-M order will be an Open order in your Orderbook.

To close your CO position, you will have to select this Open SL-M order and select the ‘Exit’ option.

At this point, your CO order will be squared off at Market Price.

If you place a Sell Limit order at 11, say in MIS, along with your CO, then if the price of 11 is reached, your Sell Limit order will be executed and you will also hold a new intraday short position at 11. This, in no means, will square off your CO.

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