how to buy a cover or bracket order at a particular price in advance

P

prasanname

New Member
#1
#1
it might be very silly question but i am very new to trading

how to buy a cover or bracket order at a particular price eg sbi at 294.4 in advance only when it reaches market price of that price in advance eventhough current price below it.

just learning from very less capital in rksv nse Equities day trading using bracket order for high margin

today i targeted to buy sbi 50share at 294.4 and sell at 295.87 and it also went up from 294.4 to 295.87 but price goes up very fast so i cant buy quickly at 294.4 so i missed it

so it there a way to place a bracket order in advance for 294.4 eventhough current price like 290

if i used buy bracket order with price of 294.4 it will buy at that price eventhough when market price very below that right ??
buy i want to in advance book a bucketorder to to buy only at 294.4 when market price reaches that price eventhough current market price down

is that sell bracket order is for that ??
but i do no how to use that
i understand only buy bracket order


sell bracket order can be used only when i already bought sbi nse equity ??
or it can be use to buy a share at particular price in advance?
 
praveen98

praveen98

Well-Known Member
#2
#2
prasanname said:
it might be very silly question but i am very new to trading

how to buy a cover or bracket order at a particular price eg sbi at 294.4 in advance only when it reaches market price of that price in advance eventhough current price below it.

just learning from very less capital in rksv nse Equities day trading using bracket order for high margin

today i targeted to buy sbi 50share at 294.4 and sell at 295.87 and it also went up from 294.4 to 295.87 but price goes up very fast so i cant buy quickly at 294.4 so i missed it

so it there a way to place a bracket order in advance for 294.4 eventhough current price like 290

if i used buy bracket order with price of 294.4 it will buy at that price eventhough when market price very below that right ??
buy i want to in advance book a bucketorder to to buy only at 294.4 when market price reaches that price eventhough current market price down

is that sell bracket order is for that ??
but i do no how to use that
i understand only buy bracket order


sell bracket order can be used only when i already bought sbi nse equity ??
or it can be use to buy a share at particular price in advance?
Click to expand...
Hi prasanname,
What you are asking is to "buy" sbi ,only if the price touches 294.4, as of now that facility is not available in Bracket or cover orders. But you can enter into such a position by placing Margin stop-loss order. You can select buy order and change the order type to Stop-loss order and enter trigger price as well as limit price as 294.4...when the price touches 294.4 a limit order @294.4 will be placed in order book...
Sell bracket order can be used to sell ...even if you don't have a buy position in Sbi...if your view is bearish you can sell as bracket order is pure intra day product...you can sell even if you don't have long position ...this kind of short selling position is to be squared off before the market close of the day....
As you said you are a beginner please learn about the orders and place orders with quantities in single digits for learning purpose...or please do simulated trading in nse pathasala....
All the best:clapping:
 
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