Trigger order (previously known as Stop order or Stop-loss market order) is placed at a particular price. The Buy trigger orders are to be placed above the current market price, and Sell orders are to be placed below the current market price. In other words, a Trigger order is placed to buy above the market price or sell below the market price.
1. Go to the scrip you wish to place an order in and click on the Buy or Sell button as highlighted below for the order panel to pop up:
2. Enter the desired quantity, tick the box ‘Trigger Buy/Sell,’ enter the price, and click on ‘Buy’. For instance, Ms. Y, a client of FYERS, wants to Buy Indian Oil Corporation Limited (LTP ₹69.95) at ₹72, i.e., above the current market price, she needs to place the Buy Trigger Order at ₹72 as shown in the image below:
On the contrary, if Ms. Y wants to place a Sell order at ₹XXX (LTP XXX), i.e., below the current market price, she needs to place the Sell Trigger order at XXXX, as shown in the image below: