Cover Orders are special orderTypes supported by the connection. Cover Orders submits a stop order along with the original order and user has to define the stop price via the order template. The Cover order template is equivalent to the CO orders as supported by the brokers.
Note: User must set the appropriate orderType and productType while submitting a cover order. Please refer to the respective connection guide to know the supporting order types and product types.
Please follow the below steps to define a new Cover Order.
If the stop price is reference price
Stop value in case the stop price is absolute
If you are placing a buy order and your buy entry order price is, say 100 (hundred) and you want to place a stop or 1 (one) then the stop loss price will be 99 (ninety nine).
If you are placing a sell order and your sell entry order price is, say 100 (hundred) and you want to place a stop or 1 (one) then the stop loss price will be 101 (one hundred one).
Stop value in case the stop price is relative
The stop price will depend on the selected Calculation Mode. Say your entry price is ₹100 (hundred) and you want to place a stop for ₹1 (one) then the 'Stop price' value will be: