A Cover Order is a special order type that is a combination of a Market/ Limit Order and a Stop-Loss Order. It has two legs: the first leg is always a Limit/ Market order and the second leg is a Stop-Loss Order. To read more about Cover Orders click here.

To place a cover order follow below steps:

  1. On the Order Entry screen select the Intraday option.

  1. Select the Order type as Market or Limit. Note: Since a cover order is placed along with a compulsory stop loss market order, the SL-Lmt and SL-Mkt order types are disabled for cover orders. 

  2. Enable the toggle next to the “Add stop loss (Cover order) option. 

  3. Enter the Price (if Limit order) and the Stop-Loss price while placing a Cover Order. You can specify the stop-loss as a % from the market/limit price also.