Can I place MIS as target against Cover order?

eine91
eine91 edited August 2020 in General
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.
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  • 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.
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