What happens if my main order/initial order gets partially executed in the case of bracket orders?
If the main/initial order of your bracket order gets partially executed, it can result in 2 cases:
For example, Mr Jacob places a bracket order to buy 1,000 shares of ITC with the main/initial limit order at Rs. 200, the take profit/limit order at Rs. 220, and the stop-loss order at Rs. 180.
Scenario 1: The initial limit order gets executed for 700 shares. As soon as this happens, the target and stop-loss orders are triggered for the executed quantity (700), and a limit order for 300 shares remains pending. If the price of ITC reaches one of the orders prices i.e., Rs. 180 or Rs. 220, the respective order is executed. When the position is closed/squared-off, the initial pending order for 300 shares is cancelled.
Scenario 2: The initial limit order gets executed for 700 shares. As soon as this happens, the target and stop-loss orders are triggered for the executed quantity (700), and a limit order for 300 shares remains pending. If a trade for the remaining 300 shares also gets executed, the target and stop-loss order quantity is automatically modified to 1000.
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