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Bracket orders
Intraday limit orders (NSE, NSE F&O) with a target and stoploss and an optional trailing SL all placed simultaneously. Target, Stoploss, and Trailing SL all activated only once the original limit order executed.
SL automatically cancelled if target is met and target automatically cancelled if SL is hit. Trailing SL which is optional trails the stoploss price or moves the SL price everytime the scrip moves in a favorable direction by the trailing stoploss value mentioned.
For example, below order to buy Nifty at 8121with a 10 point SL (or 8111) and a 10 point target (or 8131). Trailing SL of 1 point, which means if Nifty goes up by 1 point to 8122, SL automatically changes from 8111 to 8112.
Bracket orders provide higher leverage because of predetermined stoploss. To know more on bracket orders, click here. Visit our bracket order margin calculator.
- To modify or cancel a pending bracket order, visit the order book and edit the order.
- To exit an executed bracket order, click on either the pending SL or Target order in the orderbook and click exit.
- Bracket orders (BO) valid only for intraday, all open BO positions automatically squared off normally 10 minutes before market close.
- Bracket orders can’t be converted to NRML or CNC. Exit the bracket orders and take fresh positions using NRML or CNC to carry forward positions.
Cover orders
Intraday market orders (NSE, NSE F&O, Currency, and MCX) with a predetermined stoploss order. Similar to bracket orders, higher leverage due to fixed stoploss and all positions auto-squared off before market close. Click here to know more on Cover orders, and here for cover order margin calculator.
