Multiple SL and limit orders creating short position?

What will happen in this case?
I bought 100 shares at 250rs/share
Now the LTP is 255
I placed a stop loss with trigger price of 245 and limit of 246
I placed another stop loss with trigger price of 240 and limit of 241
I placed a sell order with limit price of 255
Now let’s say the price went through (255,256,250,245,240)
Which all of those two StopLoss and one Sell-Limit orders get executed? All of them creating short position?

Hmm…let me try…hope I get this right (still learning) …if I am wrong hoping that somebody will correct me

  1. your sell limit will get triggered first…making the net position zero…and a profit of R’s.5/ share

2&3) assuming they are sell sl/limity orders… the first and second order will get executed and u will have a short position of 200 shares

On further thinking… my guess is that if u punched the orders in exact same sequence…the second and third won’t go through unless they are intra day…if your buy was CNC…the last 2 orders won’t go through unless they were CNC…no problem if all were MIS.

In my limited experience in the market I have found that it is always safe to make SL (market)…otherwise if the prices drop fast the SL(limit) may not get executed.

Also, Nitin had replied to a query on some other page that when any of the sell orders get executed, we need to manually cancel the other optimistic and pessimistic sell orders :slight_smile: