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What is the difference between Stop Loss Limit Price and SLTP price that can be specified for a cover order?

April 26, 2017cover difference limit loss price SLTP

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What is the difference between Stop Loss Limit Price and SLTP price that can be specified for a cover order?

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Depending on the stock volatility and market situation, SC Caps would specify the minimum % difference between Stop Loss Limit Price and Stop Loss Trigger Price that needs be maintained for a particular stock. You can however specify a greater difference as well. Currently, 3% difference has to be maintained between Stop Loss Limit Price and Stop Loss Trigger Price. E.g. If you have taken a buy position (fresh order) for 1000 shares in ACC at current price of Rs 100/- and If you have specified the SLTP of Rs 98/- then your Stop Loss Limit Price shall be at least 3% away from SLTP. Hence, it has to be Rs. 95.06 or below it. If you specify limit price above Rs. 95.06, order will be rejected.