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What is cover order in 5paisa?

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A Cover Order (CO) is an advance order used in intraday trading to minimize the losses in a position. 5paisa offers cover order along with other advance order like bracket order and stop-loss order.

In a CO order, the buy/sell order is placed along with a Stop Loss order (SL). Say, you place a buy order at Rs 50 and also place an SL order of Rs 45. If the stock is going down, a Sell order will be auto executed at Rs 45, preventing you from unlimited losses.

 

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