Is there a way to set stop loss and profit target price together while placing an order?
Example:
I short a stock "X" at 115 rupees (Market price). I see the price moving in my favor now it is rs.110. To book the profit, I set the stop loss at rs. 112.5 and limit at 113.5. (i.e, it becomes stop loss buy order if it reaches between the range 112.5 and 113.5 again).I can predict the stock could well hit rs.105. Is there a way to set the profit target 105 and also maintain my stop loss?
I hope my question is clear, I am a newbie to stock market. I am using ICICI direct account. I don't see any option there. I read the entire manuals/FAQs, none could answer my question.If this is not possible with ICICI direct account, please suggest me if there is any other platform which can provide me this facility
Example:
I short a stock "X" at 115 rupees (Market price). I see the price moving in my favor now it is rs.110. To book the profit, I set the stop loss at rs. 112.5 and limit at 113.5. (i.e, it becomes stop loss buy order if it reaches between the range 112.5 and 113.5 again).I can predict the stock could well hit rs.105. Is there a way to set the profit target 105 and also maintain my stop loss?
I hope my question is clear, I am a newbie to stock market. I am using ICICI direct account. I don't see any option there. I read the entire manuals/FAQs, none could answer my question.If this is not possible with ICICI direct account, please suggest me if there is any other platform which can provide me this facility