Hi,
Is there any option to put SL on stock which we already bought/delivered.
I bot some shares on CNC 2 weeks back, now i need to apply SL.
Please advise
Regards,
Muniz Reza
Yes, you can place a stoploss for your equity holdings. For this, just place a CNC Sell SLM order.
Say you want to place a stoploss at Rs.95 for a share you bought at Rs.105, then place a CNC Sell SLM order with trigger price = 95.
Please note that you cannot place a target and stoploss at the same time for your holdings. You can either place a target or a stoploss. This is because if you were allowed to place both and your target got executed then your holding is already sold out but the stoploss order will remain open, and if it gets triggered too, then it will become a new short position and will lead to short delivery and an auction penalty.
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RMS denies either SL or target
How to add SL n target in your holdings
Either SL or target can be placed for your holdings, not both at the same time. Explained why above.