How to place a Bracket Order (BO)?

How to place a Bracket Order (BO)?

A Bracket Order (BO) is an advanced intraday three-legged order that is accompanied by a compulsory Target and Stop Loss Order.

Order 1: This can be either a Limit or a Market Order. All you have to do is enter the Price you would like to purchase a particular stock. If you would like to place a market order, then keep the price as 0.

Order 2: This is the stop-loss leg where you need to define the SL Trigger Price and SL Price. You can also utilize a trailing stop loss. A trailing stop loss is basically a stop loss that keeps on changing depending on price movement. To illustrate, if you have bought HDFC stock at ₹1033 and the SL Trigger Price is set to ₹980, If the stock price rises to ₹1100 the SL Trigger Price will also rise by ₹53 to ₹1033. Therefore, a trailing stop loss always maintains the same price difference.

Order 3: This part of the Bracket Order determines the profit point of the position. For example, if you have set a Target Price as ₹115, the sell profit order will be executed as soon as the price reaches that point.

The same goes for Sell Bracket Orders, however it is practiced inversely.


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