Interesting Question on Bracket Orders

General
1

Nifty is at 6700, I guess limitation of bracket order is that you cannot place market orders, so assume that I place a limit order at 6710.

In the Square off I placed 10 points and Stop loss I placed 5 points.

My question is that when the order is placed at 6710, it will get bought at market price - 6700, but will my stop loss also get squared off immediately because my stop would now be 5 points below 6710 which is 6705 ?

Or will my stop be based on the executed price like it should be, hence @6695?

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2

No. it will not square off.

your position will not get squared off. As it is executed at 6700 your stop loss will be at 6695 (5 points lower), and the target price will be at 6710 (10 points higher).

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3

In my opinion the Absolute values for Stop Loss & target will be considered from the point/value your order is executed/order entry price. So your Stop Loss will be at 6695 & your target will be 6710.

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