Stop loss in bank nifty futures

im new to trading bank nifty futures. I realise it is very volatile and my stop loss did not get triggered a couple of times . My stop loss as an example was price19250 and trigger price 19250.5 . What went wrong and how to avoid this considering the volatility and wanting a tight stop.

When the trigger of 19250.5 is hit, a limit order selling Banknifty at 19250 is sent to the exchanges. If market has dropped fast, this limit order will go pending. To avoid this, you can either use SL-M, in which case a market order is fired when trigger is hit. Or else if you are using SL with limit, place the limit price much lower than the trigger price. So maybe 19000 as the price.

On Banknifity, SL-M would be the best option.

thanks for ur response , just to understand this further i have a couple more questions/scenarios

  1. so if i place a normal stop loss i have to place the price much lower i.e 19000…but will that mean that the price sold at will be 19000? because thats a huge loss compared to the 19250 i wanted as a stop.
  2. Also whats the difference between a sl and sl-m,. Im assuming its a stop loss at market price once the trigger price is hit? which seems safe but does the trigger price have to be exactly at 19250,5 to get executed or once it goes lower then 19250.5 the sl-m is considered hit, big drops could easily miss that one number 19250.5