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ICICI Direct customers can place a stop-loss order in the ICICI Direct website or mobile app using the regular buy/sell order form. You just have to fill an additional field 'Stop Loss Trigger Price' in the order form and place the order.
A stop-loss (SL) order gets activated only when the set trigger price is reached. The SL order type is used to limit the loss of a position.
Example:
You buy a stock Rs 250 in the expectation that the price will go up. However, in the event the price falls, you would like to limit your losses.
You may place a limit sell order specifying a Stop loss trigger price of Rs 205 and a limit price of Rs 200. Once the last traded price touches Rs 205, the sell order gets converted into a limit sell order at Rs 300.
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How do I put stop loss sell order that stays valid for more than a day on icicidirect website?