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I have 50 shares of rain industries i bought it at 357 now the market price is 378.45, i would like to sell it if it goes below 378 also if it reaches 400. how can i place such an order?

should i use this option in my trading platform? see screenshot if yes How to use this option?

Available options on my platform:

Normal Order Normal Order Bracket Order Bracket Order Bracket+Trailing Order Bracket+Trailing Order

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You would place a conditional order with a stop loss at 378 and take profit limit order 400.

The stop loss will only be triggered if prices fall to or below 378 and the take profit order will only enter the market if your profit target of 400 is reached. If either order is triggered then the other order will be automatically cancelled.

Also, if the price does go further up you can amend your order to move the stop order higher so it keeps trailing the most recent high until it hist 400.

  • hmm.. is this possible with all trading platforms? im using a platform "Sharekhan" in india. i will update my question with screenshots of options available in my trading platform, if you can help me follow this answer in sharekhan it would be great. – Siddarth G Dec 7 '17 at 13:02
  • i have updated my question, Please check the screenshots and let me know if you could help me out – Siddarth G Dec 7 '17 at 13:11
  • The second or third order types should do the job. The orders provided depend on the broker, I am not familiar with this broker or their platform, but both the second & third order types you have listed allow for placing a stop loss order in combination with a take profit order. You should ask your broker how to use the orders, and they should have instructions and training videos on their website. You should be asking them for help on how to use their platform. – Victor Dec 7 '17 at 22:51

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