What are the order types available at Emint ?

We have 5 different order types at Emint : 

1. Market

Select market if you intend to place an order with the best price available at the time of order placement. 

For example, if you want to buy / sell 100 shares of Reliance, you can place a market order with Emint. Emint will then execute the trade at the best available price. This means that you will buy  Reliance at the prevailing current market price, which may be higher or lower than the price when you placed the order.

2. Limit 

Select Limit if you intend to place an order at a pre-determined price. Limit order allows you to control how much to pay for a particular stock, but it can also result in missed opportunities in fast-moving market conditions.

For example, you want to buy 100 shares of Reliance and set a price limit of INR 1500. This means that  you are willing to buy the shares at a price of INR 1500 or lower. If the market price of Reliance reaches INR 1500 or lower, the trade will be executed. However, if the price does not reach the limit or moves too quickly through the price, the order may not be filled

3. SL ( Stop Loss ) Or SL - M ( Stop loss - Market) 

Stop Loss order 

Place a stop loss to buy / sell at a predetermined profit / loss above / below the current market price. 

For example, you hold 100 shares of Reliance Industries at INR 2000. Suddenly the market starts falling rapidly and you want to limit potential losses and decide to place a stop-loss order with Emint. You set up a stop loss order with a price of INR 1800. This means that if the stock price drops to INR 1800 or below, Emint will automatically sell the shares to limit your losses. 

By using a stop-loss order, your potential losses are capped at INR 200 per share. 

Stop Loss market order 

Place a stop loss market order with a trigger price, at which point the order will be triggered to be executed. 

For example, you hold 100 shares of Reliance Industries at INR 2000. To protect your investment and limit potential losses, you can place a SL-M order at a trigger price of say INR 1800, specifying that the shares should be sold if the price drops below INR 1800. If the price of Reliance starts starts falling rapidly and reaches INR 1800  or lower, the stop-loss market order is triggered and your order will be executed. However, the actual execution price of the stop-loss market order may be slightly different from INR 1800 due to market fluctuations and liquidity 

SL-M order are not allowed while trading in options. 

4. CO ( Cover order ) 

Cover Orders are available for Intraday transactions only. With cover order you can easily place a market / limit intraday order with a stop-loss order. As the name suggest you can cover / mitigate your losses in case the market trend goes against you. 

Assume that RELIANCE is currently trading at INR 2,000 per share, and you want to buy 100 shares with a stop-loss at INR 1,800.

Place a cover order to buy 100 shares of RELIANCE at the market price of INR 2000 and set a stop-loss order at INR 1,800. If the market price of RELIANCE reaches INR 1,800, your stop-loss order will be triggered, and your 100 shares will be sold automatically, limiting your potential losses. On the other hand, if the market price of RELIANCE increases, you can manually sell your shares at a higher price to book profits.

5. BO ( Bracket order ) 

Bracket Orders are available for intraday transactions only. Bracket order is a cover order with a target price. So, a bracket order is 3-in-1 order, original buying or selling order, an upper target, and a stop-loss limit

. This allows traders to set a profit target and a stop-loss level simultaneously. Basically a BO will help you hedge your intraday  order both on the upside and downside.

For example, you want to buy shares of Reliance Industries and wish to place a bracket order. In this scenario, the first order would be the initial buying order, followed by the upper target and the stop-loss. The trader might set the following parameters for the bracket order:

• Initial buying order: Buy 100 shares of Reliance Industries at a limit price of  INR 2000. 

• Upper target: Sell 100 shares of Reliance Industries at a limit price of 

2200

• Stop-loss limit: Sell 100 shares of Reliance Industries at a stop-loss price of  1800 

Note: Prices shown in the image are only for education & design purpose only. It may or may not correlate with current / actual price.