How to Place CO Limit Order?

mayankchhabra
I'm unable to place the limit on a CO order. It executes at the market price everytime. Am I missing something?
  • sujith
    Hi @mayankchhabra,
    Cover limit orders are not yet available on Kite.
    Kite has only cover market orders. We will add it in future.
  • mayankchhabra
    Thanks for letting me know @sujith

    Can you help on how can I manually place a sell CO order using 2 individual orders?
  • sujith
    Hi @mayankchhabra,
    You can read about cover order here.
    You need to place entry market order and for exit use stop-loss market order.
    You can check example for placing order here.
  • mayankchhabra
    Thanks again for the help, @sujith

    I'm not sure how the SL Market Order for exit will auto square off at 3:20PM like it does in CO. Can you please shed your knowledge on that?
  • mayankchhabra
    Also if you could perhaps give an idea about when can we expect to have limit cover orders in Kite that'd be great since that'd allow to use the higher leverage given in CO vs MIS
  • sujith
    Hi @mayankchhabra,
    If you take MIS position, it will be squared off by RMS at 3:20 PM. If you have SLM order then it will be canceled and then a fresh market order is placed.

    I am afraid, we can't give any timeline as of now for limit cover order. Our priority right now is this https://kite.trade/forum/discussion/943/update-revamping-of-core-api-infrastructure
  • mayankchhabra
    Hi @sujith.. As you said, I placed an MIS limit sell order at 10:00AM which was successfully executed.. Then I placed an MIS SL-M order of the same stock with a trigger price which never reached. So at 3:20AM, it just got cancelled and no fresh market order was placed.. Please let me know what am I missing?
  • mayankchhabra
    Quick update - after the cancellation of MIS SLM Buy order at 15:20:03, another buy order was automatically placed and fulfilled at 15:25:45 by "ADMINSQF" so I guess that's what you were referring to?
  • sujith
    @mayankchhabra,
    Yes, RMS will square off all open intraday positions at 3:20 PM.
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