How to place a bracket order

The Bracket order or the One Cancels Other (OCO) order is three legged intraday order. The first leg of the OCO is buying or selling the actual scrip. The 2nd leg is the stop loss just like a cover order. The 3rd leg is a take away profit order. This means that if a stock reaches a certain price in profit your order automatically gets squared off and you make the profits you intended to make.

 

The margin benefits in an OCO order are the same as that of a cover order. Also like all intraday orders the order gets squared off at 3:15pm at the prevalent market price.

 

To place a Bracket order you will need to select OCO in the order complexity section while placing an order. You will need to enter the limit price and the stop loss price while placing a cover order.

Visit the How to place an order page to learn how to place an order on the app.