I'm trying to place a SL and Target order in Intraday stocks via Kite API. Ideally this would be straight forward with Bracket orders. But bracket orders are not supported in Zerodha and when I looked at the forum, GTT is an alternative that was suggested. I went throught Kite web and can't find the option to place MIS orders in GTT. It only shows CNC. The documentation also have the product type as CNC. So
1) Does GTT support MIS orders ? 2) If not, what's the best alternative of Bracket orders for Intraday stocks ?
The essence of GTT is not intraday trading but to place long term stoploss and target orders. A gtt placed is valid for one year. What you can do is use get_gtts() to get all the GTTs placed in last 7 days. Every gtt has status,id keys,if the status is active,use the delete_gtt(id) method around the closing time .
@SRIJAN But by that way I wont be able to make use of the 5x margin right ? I undersand that GTT has been designed for CNC. Can you let me know the best method for BO in intraday stocks ?
I don't get it. How you can't get margin benefit?
However,if you aren't comfortable with gtt orders, then you have to place two different sl and limit(target) orders.
But by that way I wont be able to make use of the 5x margin right ?
Yes, the GTT CNC order won't provide leverage. You can use CO with the combination of target MIS order or a combination of MIS stop-loss and target orders.
I undersand that GTT has been designed for CNC. Can you let me know the best method for BO in intraday stocks ?
However,if you aren't comfortable with gtt orders, then you have to place two different sl and limit(target) orders.