Can I place MIS as target against Cover order?

eine91

Suppose I have below CO:

CO order:

Buy : Rs.100
Stop loss sell trigger: Rs. 95

Since there is no option of placing target in CO, can I post below MIS as target for above CO.

MIS order

Target sell: Rs. 105

Since bracket order is not allowed as of now, I am approachng above way.

sujith

One shouldn't place a target sell for cover order. Since exiting cover order involves executing stop-loss order at the market.
If you place a target order and exit cover order, it will result in a hanging short position at the end.

If you want to mock bracket order then you need to monitor the instrument price to reach 105 and call exit cover order.

eine91

Thanks for the information.