That’s call a bracket order which works for mis trades. All brokers provide BO except Zerodha.
They ll suggest you to use GTT but gtt works only for CNC orders.
You can find BO in all brokers, notably fyers works smoothly. Aliceblue charges Rs9 for BO executed. Espresso BO is okay. I don’t know about 5 paisa. Perhaps others can chip in.
Yes, you can easily do this using GTT OCO order, where if either of the order is hit (Target or SL) the other is automatically cancelled. You can learn more on how to place GTT OCO order here: