Yes, Angel One supports Cover Orders. Cover Orders are special intraday orders where you place a buy or sell order along with a mandatory stop-loss order. This helps limit your losses while trading on the same day.
What Is a Cover Order?
A Cover Order is an intraday order where you place your buy or sell order with a compulsory stop-loss order. It helps reduce risk by automatically exiting your trade if the price moves against you beyond a set limit.
How Does Angel One Support Cover Orders?
Angel One allows you to place Cover Orders for intraday trades in equity cash and derivatives segments on NSE and BSE. You can set your entry price and stop-loss price to protect your investment from big losses.
What Are the Benefits of Using Cover Orders?
Cover Orders help limit your losses with a stop-loss price. They reduce emotional trading decisions and provide automatic risk control. This makes intraday trading safer and easier for beginners and experienced traders alike.
How to Place a Cover Order on Angel One?
To place a Cover Order, select the stock, choose buy or sell, pick intraday as the product type, and then select Cover Order from the order types. Enter the quantity, price, and stop-loss price, then confirm your order.
Are Cover Orders Available for Delivery Trades?
No, Cover Orders are only for intraday trades. You cannot use them for delivery or long-term investments because the stop-loss order expires at the end of the trading day.
Can You Cancel the Stop-Loss in Cover Orders?
No, once the Cover Order is placed, you cannot cancel the stop-loss order separately. It stays linked with your main order to ensure your risk is protected.
What Happens If Stop-Loss is Triggered?
If the stop-loss price is hit, your position will be automatically squared off to prevent further losses. This helps protect your capital during volatile market moves.
Is There Any Time Restriction for Cover Orders?
Yes, Cover Orders can only be placed between 9:15 AM and 3:10 PM on trading days. Orders placed outside this time will not be accepted.
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