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Capping Losses while Maximizing Returns
Cover Order allows you to take advantage of intraday trading in huge volumes with minimum margin and at the same time limiting losses.
You place a buy order for 20 shares of company A at Rs 100 per share. Minimum margin on Company A is 3% and you can bear maximum loss of Rs. 2 per share then placing a stop loss cover order at Trigger price Rs. 98, margin blocked will be Rs.80 i.e. Higher of Maximum loss you can bear*multiple (Eg: 2 times) decided by RSec [(2*20)*2 = 80]& minimum margin% on the stock value [(20*100)*3% =60].
Get to know how Cover Order works.
Place a buy/sell order in equity, derivative or currency along with the stop loss Cover Order mentioning the trigger price.
Trigger price placed at a price on which you can bear maximum loss.
Margin blocked is higher of maximum loss you can bear and minimum margin % on the stock.
Stop loss order remains pending till trigger price is not reached.
Square-off your open positions before 3.10 pm, else Reliance Securities will square-off your open positions by the end of market close on the best-effort basis.
Get to know how you can benefit from Cover Order
Save on brokerage costs with higher volume trades
Reduction in the risk of an investment
Capitalize on market opportunities
Garner market opportunities with minimal margin requirement through F&O.
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