Order query for placing order for target

Hello @nithin

I have below query.
Suppose I have placed MIS sell order at 100 rs. Here I can place SL or SL-M order if I want to have a stoploss obviously at price higher than current price (say at 103).
Now as I have already placed sell order and I want to place one order at my target price (say at 95). How I can place that? Yes, I know I should have placed bracket or cover order but as of now I am in above stated situation. How can I place the buy order at my target price? (If I will place SL or SL-M order it will execute immediately because order price is below the current price)

You have to place a buy limit order at 95. Once either your SL or buy limit gets executed, you have to cancel other.

Check the below video

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Today I shorted Ambujacem at 200.55 and I placed target limit order as per your instruction at 199 when current price was 199.10, but the order executed at market price. Attached screenshot for reference.

Looks like you have placed a SL-M buying order with trigger at 199. So the trigger has gotten hit at 199 set and then market buying order got it executed at 199.13. What you need to place is a limit buying order, not SL or SL-M

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Okk. I will try again. May be mistake from my end. I will revert you for the same.

One more query: If I place SL-M order with trigger price, so pending order is in the system, still not sent to the market. Now if internet outage happens or I close the zerodha, and then price arrived trigger price. Will the order get executed?

Yes order will execute

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@nithin ?

Once you place the SL order, it doesn’t matter if you are connected or not, order will still execute.

Okk… Thank you :slight_smile:

One thing that everybody here neglected.
NEVER EVER put your SL orders so close to the CMP/LTP.
Never ever put tight stop losses.
You are putting tight stop losses meaning you are trying to chew off bigger bite than you can eat.

@nithin In bracket order, why trailing SL must be greater than 1?

How trailing SL works is that an order modification happens everytime the price moves by that value. If the value was lesser than 1, it could potentially mean orders being modified every second for all open BO positions, which can add a lot of stress on the execution management system.

SL can be anything, can place at .5 also,only limit is for trailing stop.

I forgot to write trail there.

But, @nithin we need to put trail SL of less than 1 value in stocks having price <300 for example. I need to put trail SL at 0.75 but I forced to put at 1. Situations may severe in the stocks of price less than 100. How can one put trail SL of 1 in that case. There is a high probability that trailing SL will hit early. Please take follow up on this. A change needed. Thanks!

This may not be possible as it put severe load on oms and also if trail of sl is narrow then most of times it end hitting it which is not desirable, also one must consider that stocks won’t move linearly either up or down, they fluctuates sideways before moving up or down.