Can I modify the cover SLTP order?
Yes, you can modify the price of your cover SLTP order subject to the Trigger price conditions being fulfilled. You can even modify the Cover SLTP order to a Market order provided your fresh order is full executed.
Assume you take a buy position for the fresh order of 1000 quantity at current market price of 100/-. Simultaneously, you also place the sell (cover SLTP) order of 1000 quantity at Limit price 90/- and SLTP 95/-. The above trigger condition is defined with a view to curtail losses. If subsequently the current market price shoots up to 110/-. You can modify the order as below Limit price 103/- SLTP 108/- (i.e. SLTP can be placed up to 110) or alternatively you can modify the order to market and book profits.