I have noticed that we can add stop loss and take profit only in bracket orders for intraday trading. But in case of long term investment where we plan to hold a stock for days, months or years there is no provision of adding stop loss and take profit targets and even the stop loss which we put while putting a cash and carry order expires after the trade day in which we placed the order gets over. So next day there is no stop loss in the system. Nor is there any provision for adding take profit price in long term cash and carry trade for which we have to track the share price frequently and sometimes it hits our target and comes back. Why is it so? Can this feature be added in future upgrades?
Sorry no Indian Broker provides such facility i.e. to put stop loss on you Demat HOLDING. and i doubt technically too it is possible
Approx by when this feature will be added?
ICICI Direct does provide VTC/GTC (valid/good till cancelled) orders.
It is also provided by AXIS DIRECT as GTC order, however, it cannot be used as a stop-loss order, it can be used as a profit booking or limit price (above LTP) entry order only.
Eg. I have a stock which is bought at 100, then I can place as GTC order at (say) 120 for booking profits when the stock reaches my target price. But, I cannot place a stop-loss order at (say) 99, as which will immediately get executed as the LTP is above the limit you mentioned, i.e. 99. There is no trigger price possible in this type of order.
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But does this order remain valid beyond one day ?? say for 4 to 5 days ??
its valid for 45 days as per ICICI Direct policy
There is no provision for stop loss for long term investment, instead you can use 20 DMA on weekly or monthly chart depending on your time horizon as a stop loss , just you need to see whether the price above 20 DMA or below it and take action accordingly
If you are busy some work then contact your broker they can buy or sell in your stop-loss or book profit if it reverse the movement