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Q. What are the types of GTT?
1. Single-Leg GTT Order:
One trigger price and one order price, either for buying or selling, are set by you.
- Example (Buy):
You want to buy Tata Steel if the price drops to ₹120.
Type | Trigger Price | Order Price |
---|---|---|
Buy GTT | ₹120 | ₹119.50 |
When the stock hits ₹120, the system will place a buy order at ₹119.50.
2. OCO GTT Order (One Cancels the Other):
You establish a target and a stop-loss trigger price. The other is cancelled when one is struck.
- Example:
You bought HDFC Bank at ₹1500, and now you want to:
- Sell at ₹1600 (profit target) or
- Sell at ₹1450 (stop-loss)
Order Type | Trigger Price | Order Price |
---|---|---|
Target Sell | ₹1600 | ₹1599.50 |
Stop-loss Sell | ₹1450 | ₹1449.50 |
If ₹1600 is reached, your target sell order is placed, and the stop-loss is cancelled (and vice versa).