Want to know about SL-L, SL-M orders practically

General
1

I want to know about SL-L, SL-M orders practically...

I am aware of the fact that in the above terms, L and M stand for Limit and Market respectively.
I just wanted to know when is the order exactly triggered?

Suppose, I am holding SBI futures bought at 265.
Now, to limit my losses, I place a SL sell order with 262.10 as the trigger price.

In this case, when will my SL order be triggered?
1. When the LTP actually hits 262.10 OR...
2. When the LTP hits any value less than 262.10 without even hitting 262.10

3

The trigger of 262.1 gets activated when market price eitehr hits 262.1 or even when it goes lower than 262.1 without exactly hitting 262.1. 

So both the cases you have mentioned, SL will get triggered. 

Check this for more on SL orders. 

4

Didn’t get the answer I am looking for… Anyway, thanks :slight_smile:

5

Thanks Nithin… This is the answer I was looking for.