NSE NOW Online Stop Loss Order

Hello,

I am new to the NSE NOW Online web client. Can you please tell me how to place a Stop Loss order on a option in this client.

Eg: I purchase a Nifty-5400 PUT @200 and I want to sell it automatically if the price drops below 190. I know I should issue a stop-loss order, but will you be kind enough to take me through the exact steps I need to perform ?

you sell another identical PUT (Identical : Strike price same).. there you can choose order as STL type

So as per my example - As soon as I buy the Nifty-5400 PUT @200, I should issue a SELL order with the order type set to SL-L (stoploss) and price set to 190 ? Is that correct ? Also, I imagine the "Trigger" field plays no role in the stoploss order..

If the price goes up to say 220 and I want to sell the PUT, will I have to first cancel my SL order ?

My broker is Zerodha, they are pretty responsive in this forum. I will place this question to them on this forum.

[ I dont have any method to close this thread here ]

Your sell order will be triggered at your trigger price. Limit price is the lowest you want to sell on.

Ex: Say you put a STL sell order at 190 , once your stoploss is hit your order will be activated but assume market went down 40 points next tick. Will you like to sell on that ? May not. So place a limit ..say 189.
So your order will get triggered @ 190 and will be solved in between 190-189.. Below 189 it will not be sold.

Thanks, very clear answer.

one more question on this...
If I want to place both a Stop Loss Trigger @190 AND a Limit order to sell above say @210...
Do i need to have 2 separate orders to sell?