A Bracket order (BKTIntraday) is a special type of order where you can enter a new position (intraday only) along with a target/exit and a stop-loss order. As soon as the main order is executed, the system will place two more orders (Profit-taking / Target and Stop-loss). When one of the two orders (profit taking / Target or Stop-loss) gets executed, the other order will get canceled automatically.

How it works?

1. Brackets Orders will now be available exclusively for the cash segment specifically for NSE Equity and BSE Equity.
2. A minimum difference requirement between the Target price and the Stop-loss price for all scrips. The details are as follows:
   • For scrips priced less than Rs. 100: A minimum difference of 2% must be maintained between the Target price and the Stop-loss price.
   • For scrips priced greater than Rs. 100: A minimum difference of 1% must be maintained between the Target price and the Stop-loss price.
3. Validations for Price Entry:
   • Buy Bracket Order
     • Limit Order:
       • Target Price: should be greater than Order Price.
       • Stop-loss Price: should be less than Order Price.
     • Market Order:
       • Target Price: should be greater than LTP.
       • Stop-loss Price: should be less than LTP.
   • Sell Bracket Order
     • Limit Order:
       • Target Price: should be less than Order Price.
       • Stop-loss Price: should be greater than Order Price.
     • Market Order:
       • Target Price: should be less than LTP.
       • Stop-loss Price: should be greater than LTP.
4. Bracket Orders can be cancelled or squared-off only from the Order report, and not from the net position report.
5. Order Cancellation:
   • If the first leg order is pending, cancelling the order will result in the cancellation of all three orders: Parent, Target, and Stop-loss orders.
   • If the first leg order has been executed, the second leg orders (Target and Stop-loss) cannot be cancelled. Cancelling the order will cancel any pending quantity of the main order and square off the executed quantity at market price.
6. Order Modification:
   • If the first leg order is pending, modification of the parent order's price and quantity, as well as the target and stop-loss prices, will be allowed.
   • If the first leg order (parent order) has been executed, modification of only the target and stop-loss prices will be allowed.
7. Order Types:
   • Both market and limit orders will be allowed for 1st leg orders.
8. Good-for-Day (GFD) Orders:
   • Only GFD orders will be allowed for Bracket Orders.
9. Intraday Product:
   • Only the Intraday product will be allowed for Bracket Orders.
   • New Bracket Orders will be closed with the intraday order window after 3:15 pm.
   • Bracket Orders will be squared off at 3:20 pm if neither the target nor the stop-loss is triggered.
10. Disclosed Quantity:
    • Disclosed quantity will not be allowed for Bracket Orders.
11. Order Type Limitation:
    • Only normal orders will be allowed for the 1st leg orders.
12. Margin calculation:
    • Margin calculation will be based on VaR margin.
13. After Market Orders (AMO):
    • AMO orders will not be allowed for bracket orders.
14. Order Conversion:
    • Bracket orders cannot be converted to Delivery/MTF order.
15. Order Split:
    • The order split feature will not be available for Bracket orders.
16. Square-off all / Cancel All feature:
    • The Square-off All / Cancel All feature will not be applicable for Bracket orders.
17. Child Order Rejection:
    • If any child order is rejected, the position will be squared off by placing the other child order at market price.
18. Trigger Execution:
    • Once a child order (either target or stop-loss) is triggered, it will be executed at market price, and the other child order will be canceled.
19. Partial Execution of Parent Order:
    • If the parent order is partially executed, child orders will be placed only for the executed quantity.
20. Partial Execution of Child Orders:
    • If any child order is partially executed, the other child order will be modified to remaining quantity of the first child order.
21. Parent Order Partial Execution Scenarios:
    • If the parent order is partially executed, and any child order gets rejected, expires, cancelled or fully executed, then the remaining part of the parent order will be cancelled and the other child will be squared-off at market price, I. e. positions will be squared-off.