Using SL and SLM orders for Target.?

Zerodha Zerodha platforms
1

I have several question regarding this as follows

  1. SLM order as Target in MCX :- if i take gold for 3000 @ target 3020 and stop loss with 2990 can i do it with 2 SL/SLM order type.

  2. SL/SLM with cover order in MCX and futures - to use leverage can i use CO with SL/SLM as the target

  3. Is SL/SLM order Intraday or can it be use in CNC / NRML

  4. can SL/SLM be used in Options

2

#3 Yes
#4 Zerodha doesn’t allow market orders for options.

Not sure of #1 & #2

3

Yes you can place two orders for futures as long as you have free cash in the account, during order placement your margin utilization should be less than 100% of your capital in that case only it will allow you place both orders.

Cover orders comes with SL/SL-M orders only, Zerodha has Bracket orders for futures in nse f&o segment where you can place both SL & target orders, for mcx right now they have CO only & BO will be launching shortly.

Sl /SL-M orders can be used for all products.

1 Like
4

Thanks Sam for your valuable answer, My further question is will SL/SL-M order prevail for the all days till i cancel SL/SL-M order or is it same (1) day only.

5

@nishant.n , As of now, orders are validated for the day only.