SL-M orders & Leverage

F&O
1

Hello,

So lets assume Nifty 11000 CE is trading at Rs. 40. Now I want to buy when it crosses Rs.50, so I put in sl-m buy order at Rs.50.

After the order is triggered, I go to positions, and click on ‘exit’ and put in an slm-sell order at Rs.35 (which is my stop loss). Now extra margins is not charged here which I am aware.

But after my buy order is triggered, if I put in new slm-sell order at Rs.35 - (without clicking on exit)

  1. Will it square off my buy position if triggered ?
  2. Will this new sl-m sell order need new margins for short calls ?

I want to save on time of going to exit position, entering price and then placing a stop loss order. Cover orders have only market orders when entering and not slm orders which is again the problem.

2

It will be still considered as Stop-Loss order and your position will be squared-off.
There will be no additional margins blocked.