What is the difference between StopLoss Limit Price and SLTP price that can be specified for a cover order?
Depending on the stock volatility and market situation, MOSL would specify the minimum % difference between StopLoss Limit Price and SLTP price that can be maintained for a particular stock. You can however specify a greater difference as well. 2% difference has to be maintained between the limit price and SLTP for ACC. You have taken a buy position (fresh order) for 1000 shares in ACC at Current price of Rs 100/-.You specify the sell order (Cover order) for 1000 shares in ACC at SLTP of Rs 95/-.Since this is a sell order the limit price would be lower than the SLTP. Limit price in this case can be Rs 93.10/-(2% of 95= 1.90 so limit price can 95-1.90= 93.10 and below.
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