In bracket orders, say, i have a option trading at 150 currently. i want to buy it at market price when it goes up to 160. when i buy it at 160, i want to set an exit target at 170 and a stoploss at 150. is there any way i can specify these conditions for entry, exit and stoploss without waiting for the price to reach my intended entry point?
Hi @Vedanand welcome to the community!
In bracket orders, you can set specific conditions for entry, exit, and stop-loss without waiting for the price to reach your intended entry point. For example, if you have an option trading at 150 currently and you want to buy it at market price when it goes up to 160, you can set a bracket order with the following conditions:
- Entry: Buy at market price when the option price reaches 160
- Exit Target: Set a target price at 170
- Stop Loss: Set a stop-loss price at 150
By setting up this bracket order, you can automate the process of buying at 160, setting an exit target at 170, and a stop-loss at 150 without needing to monitor the price constantly.
We hope this helps.
I tried it today, and even though I set the entry price higher than the CMP, it executed at market value. Is it impossible to place a buy order above the CMP? and there was no sudden movement of price
Yes, you can place a buy order above the current market price without waiting for the price to reach the intended entry point by using a Good Till Trigger Order (GTT). This order allows you to set a predetermined price at which you want to buy a stock. The order will be executed if the market price reaches your specified trigger price before the GTT order expires.