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:

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


Step 2: 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. 

Step 3: Enable the toggle next to the ‘Add stop loss (Cover order) option’. 

Step 4: 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.


 

NoteCover orders are not allowed across F&O segments, since additional leverage is not provided for CO on index options.Cover orders are not allowed across F&O segments, since additional leverage is not provided for CO on index options.