Weird trade today. Both bracket order's target and SL got executed

Trading
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I shorted Adani Power today using bracket order at 35.65 with a target of 35.55 and SL of 36.15…What happened next was the stock first got my target and then moved straight up till around 39 and as my order was Bracket Order, the order book was showing that both my TGT 35.55 as well as SL order (36.15) which should get cancelled got executed too. Now as SL was a buy order and stock moved upward…it gave me a huge profit. I then called Zerodha and the customer executive there put a counter order on my behalf as I wasn’t able t exit that position.

My question here is as my order book showed that target hit first shouldn’t the SL order set by bracket order gets cancelled anyhow. Why it executed that order too? I think it has to do something with the volatility but any insight here would be helpful.

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I have both Icicidirect and Zerodha. This is the very reason why a intraday trader must go with full service robust system brokers.

I don’t blame Zerodha but it is bound to happen

In Icicidirect there is a cover order and profit limit order. They have High end servers that will make sure to cancel ur cover order a micro second before executing your profit order. The small delay also they convert into a spread and show you the maximum loss that can be incurred. In these type of cases they may end up partly executing your profit order rather than missing out cancelling stop loss order.

I saw all this practically and continuing to take positions in Icicidirect and CNC in Zerodha

2 Likes
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WRONG!!!

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Explained here: Both my SL and target on bracket orders got hit, what do I do now?

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Thanks!!!

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I think Placing STOPLOSS means we are ready to feed this(SL value) much max to the daemon (Counter Trader) to save our CAPITAL and is up to temper of daemon to accept our offering or to release profit to us. :smile: :grin: :rofl: