A stop-loss order helps limit losses by automatically executing a trade when prices move against your position.

Types of Stop-Loss Orders:

1. SL-L (Stop-Loss Limit) Order: Specifies both the trigger price and the limit price.
2. SL-M (Stop-Loss Market) Order: Specifies only the trigger price, and the order is executed at the best available market price.

Examples:

1. Buy Position at Rs 100:

   • SL-M Order: Set a trigger price of Rs 95. When the price hits Rs 95, a market sell order is triggered, selling at the current market price.
   • SL-L Order: Set a trigger price of Rs 95 and a limit price of Rs 94.90. When the price hits Rs 95, a limit sell order is triggered at Rs 94.90.

2. Sell Position at Rs 100:

   • SL-M Order: Set a trigger price of Rs 105. When the price hits Rs 105, a market buy order is triggered, buying at the current market price.
   • SL-L Order: Set a trigger price of Rs 105 and a limit price of Rs 105.10. When the price hits Rs 105, a limit buy order is triggered at Rs 105.10.

SL-M orders are not available for options trading as per exchange guidelines.