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Order Placement

Order Placement

What is the difference between limit price and SLTP price that can be specified for a Cover SLTP Order?
Depending on the stock volatility and market situation, I-Sec Ltd would specify the SLTP minimum difference % between limit price and SLTP of your cover SLTP order that can be maintained on order placement and modification for a particular stock. This percentage could be revised by I-Sec even during the day. Existing orders would be unaffected by the revision but however if the orders are modified the revised percentage would apply. The value for Limit Price would automatically appear in the Limit Price field based on the minimum difference % for the stock between the Limit Price compared to the Stop Loss Trigger Price (SLTP). Example: A 1% difference has to be maintained between the limit price and SLTP for cover SLTP order for NIFTY. You have taken a buy position (fresh order) for 100 shares in NIFTY at Current price of 6005/-. You specify the sell order (Cover SLTP order) for 100 shares in NIFTY at SLTP of 6000/-. Since this is a sell cover SLTP order the limit price would be lower than the SLTP. Limit price of Rs 5940/- = (6000- (6000*1%)) will automatically appear in the Limit Price field.