Zerodha offers several order types on its Kite trading platform, each designed to suit different trading needs and strategies. Here's a simple breakdown of the most common order types:
Basic Order Types
- Market Order: Buy or sell instantly at the best available price. Quick execution, but no price control.
- Limit Order: Set your desired price to buy or sell. The order executes only if the market reaches your set price.
- Stop-Loss (SL) Order: Used to limit losses. You set a trigger price and limit price; the order activates when the trigger is hit.
- Stop-Loss Market (SL-M) Order: Similar to SL, but executes at market price once the trigger is hit—no need to set a limit price.
Advanced Order Types
- GTT (Good Till Triggered) Order: A long-term limit order that remains active for up to 1 year or until your trigger price is hit. Ideal for long-term investors.
- Cover Order (CO): Combines a regular order with a compulsory stop-loss. Offers higher leverage and is suitable for intraday traders. Not available for options.
- Basket Order: Lets you place multiple orders at once (up to 20 orders per basket). Great for strategy-based or bulk execution.
- After Market Order (AMO): Allows you to place orders outside regular market hours, which will be queued and sent when the market opens.
Validity Options
- Day Order: Stays active until the market closes on the same day. If not executed, it’s automatically cancelled.
IOC (Immediate or Cancel): Executes immediately, and any unfilled portion is cancelled. Suitable for high-volume or urgent trades.
