Queries on stop loss order types

Zerodha
1

I have a few queries that I have while placing buy and sell orders on Zerodha. Appreciate if someone experienced on the platform can help me out with my queries

Placing stop loss order separately - If I have placed a Buy order that has been executed, how do I place an order that will sell the stock below a certain price e.g. I have bought a stock at 100 and I’m expecting it to rise. But I also want to ensure that I get out if the price goes in the opposite direction e.g. 90. So can I place a SL order for that scrip at 90 separately?

Placing a target sell along with SL level - For the same example above, can I place a sell order with a target limit price and a stop loss as well? Which order type should I use?

Please note that both the cases, I have already bought the scrip. Also, this is not for intraday trading.

2

You need to place 2 orders .

For Profit Booking: A CNC SELL Limit Order with Price at 105, if 105 is your profit target.

For Loss Booking: A CNC STOP LOSS SELL Limit Order with Price and Trigger at 90 .

You need to place these 2 orders every day .

1 Like
3

Thank you for your revert. I understood the same. I have a follow up query.

Can I use the CNC STOP LOSS SELL Limit Order to set a price of 110 as Target Price, and 105 as SL. My buying price being 100 i.e. Can stop loss be above the buy price in such a kind of order? Effectively, I’m hoping to sell out at 110 but if the price reverses, I should at least get out at 105.

4

This normally works using the Trailing Stop loss Order in a Bracket order.

Manually this would not work, unless the CMP is above 105 and then you place a STOP LOSS SELL order.