In coverOrder, if SL is modified does it get converted to limit ordertype from SL-M automatically

In coverOrder, if SL is modified does it get converted to limit ordertype from SL-M automatically

Hi,

A Cover Order(CO) is a Market Order along with a SL-M order.

Lets take an example of a Buy CO.

Lets assume your Buy CO executed at 100 and you have placed the Sell SL-M order at 95.

After 5 minutes,

Your CO scrip is trading at 99.

Now if you modify your Sell SL-M order from 95 to 98, it will still remain a Sell SL-M order.

But if you modify your Sell SL-M order from 95 to 100, then your Sell SL-M order will turn into a Sell Market order.

This is because your Sell SL-M order with trigger of 100 gets triggered immediately because LTP is 99 and the Market Price becomes the Best Sell price.

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i placed a sell cover order at 4363 , stop loss 4390 . after some time value dropped to 4325 , i tried to modify stop loss at 4340 . but to my surprise cover order got executed at 4390 . please explain this .