Stop Loss and Target order in Zerodha

How to placed SL and Target order in Zerodha (without using CO/BO if possible)

The practice which I am using is I placed a buy order using MIS Limit. And then another new sell order using Limit option. This sell order is not executing at Limit price but instead it is executing at Market price.

Dear friends please suggest me on this.


So, let’s say,
LTP = 100
Buy Limit = 90
Sell Limit = 110
SL Limit = 80
isn’t working for you?

Hi @kidrow, I know this, but my point is how to place orders for both SL and Target.

(Say create two different orders one is buy and one is sell for SL and then what about the Target order, or any other combinations)

If you could explaine me it will be really beneficial.

Try this way, I am using Reliance and assuming that you not doing Intraday.

LTP is 2108, and you want to go long.
Use cover order with market buy order of 2108 with SL of 2078 in the same order
Then seperately enter a Sell Order, which will be “Target Sell at 2150”. This Target sell order has to be GTT/GTC. Since these orders stay even after the day is closed.

One challenge in using this method in Intraday is the separate “Sell” target order will register as “Short” order in the positions. This I learnt, after breaking my head and my wallet a bit :wink:

Automating the orders with BO is a challenge, since the volatility is pretty high. We are at 24% while the usual is average 10%.

Happy Trading

Thank you for this useful information.

From past few days I was also breaking my wallet to understand this correct order placement.

I was trading in intraday and yes it is bit challenging.

Thanks once again.

Don’t think it will work without requiring additional margin, unless your Buy order has already been filled. Not sure though. Maybe someone else could chime in.

Edit: I’m talking about Mis. If you are asking about GTT, I’m not too familiar with it.

I guess your question is different from what I assumed you were asking then, :slight_smile: .

If your main order is executed there is no need of margin for exit orders on that position.

If it isn’t filled, additional margins are blocked for each order.

Funds aren’t blocked in advance for GTT orders.

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I have a similar question., Appreciate if someone could support.
Say Stock A is currently 100.
I wanted to buy at 101. So placed a Limit buy order at 101.
Once it is executed, placed another stop loss sell order at 98 to exit my position.
Question is
"Can both the condition be specified in single order scrip?
A single order where I specify to buy at 101 and sell if it drops below 98 ? "
I need to know this since premium for Nifty options swings very fast and I’m finding it risky to quickly place two orders separately to cover my position.

Appreciate if supporters can provide a snapshot of Kite platform or stepwise execution instead of
easy answer saying use Bracket order or cover order.

No, this can’t be done in a single order, you will have to place two separate orders.

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any alternatives of BO?

No alternatives to BO, workarounds have already been discussed above in this post.

There was indeed a thread requesting the BO mechanism be brought back, albeit with reduced/nil leverage, for such situations.
Sadly, that never picked up momentum & the feature request was largely ignored.

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Why aren’t slm-orders allowed while entering a position with cover orders ?

@ShubhS9 Lets say nifty is trading at 10800, if I place an slm-buy order at 10825, and after it is executed, I place an sl-m sell order at 10810 (as a fresh order, and not by entering sl for the buy order), will it square off my buy order or a new short position is created ? This short order whether it squares off or not, will require additional margins I guess.

This will be considered as Stop-Loss order and your long position will be squared-off.

Since it acts as Stop-Loss for your Long Position, this order won’t block any margins.

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Can I assign a stop loss a few days after buying a Stock/Futures/Option, without having to use BO/CO at the time of buying ?

BO and CO are Intraday orders, you cannot use them to take Overnight positions.

Yes you can set Stop - Loss whenever you want after Buying, for overnight positions you can use GTT feature to place Stop-Loss.

Thank you very much
I guess there must be tutorials in Zerodha Varisty or Youtube in how to correctly use the feature for settig stop loss later.