Zerodha let’s the customers place the buy order with stop loss. Stop loss means, you can quote a particular price, that if that price is reached, you can get the transaction request for you automatically. Let us now see how to do it.
How to buy with stop loss in Zerodha
- Go to your Zerodha account.
- Select the Share which you want to buy.
- Quote the price and quantity & select MIS or CNC.
- Now select the “SL” option and enter the Stop Loss price.
- Swipe the “buy” tab to initiate the purchase order.
If you chose MIS i.e. an intraday trade, you must square off your open position before the market closure. Besides, your order shall be executed at your set limit price, once the “stop-loss trigger price” is met
Under CNC, you can hold your position for long as it is a delivery trade. You, therefore, can sell after as long as you wish
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