How does Smart Exit work with Target and Stop-loss in FYERS?

How does Smart Exit work with Target and Stop-loss in FYERS?


Smart Exit is an account-level risk management feature that allows users to set an overall Target and/or Stop-loss for open positions.

When the defined Target or Stop-loss condition is met, Smart Exit either squares off positions or sends an alert, based on the mode selected by the user.

Overview

Smart Exit monitors the overall account-level P&L across positions.

It applies to:

  • Intraday Equity positions
  • Intraday F&O positions
  • Overnight F&O positions

It does not apply to:

  • Equity Delivery positions
  • MTF positions

When the defined condition is met:

  • Exit mode: Eligible positions are squared off using a Market order with Protection.
  • Alert only mode: An alert is sent, and the positions remain open.

Target and Stop-loss

In Smart Exit, Target and Stop-loss are based on the overall P&L of eligible positions.

  • Target: The profit amount at which Smart Exit should trigger.
  • Stop-loss: The P&L amount at which Smart Exit should trigger.

Stop-loss can be set as a negative value or a positive value.

Scenario 1: Negative Stop-loss

A negative Stop-loss is used when the user wants Smart Exit to trigger after the overall P&L reaches a loss amount.

Example:

  • Target: ₹10,000
  • Stop-loss: -₹5,000

In this scenario, ₹10,000 is the Target and -₹5,000 is the Stop-loss. If the overall P&L of eligible positions goes into loss and reaches -₹5,000, the Stop-loss condition is triggered.

In Exit mode, eligible positions are squared off. In Alert only mode, only an alert is sent and the positions remain open.


Scenario 2: Positive Stop-loss

A positive Stop-loss is used when the position is already in profit. If the profit comes down to the Stop-loss value, Smart Exit is triggered.

Example:

  • Target: ₹10,000
  • Stop-loss: ₹5,000

In this scenario, ₹10,000 is the Target and ₹5,000 is the Stop-loss. For example, if the overall profit reaches ₹7,000 and later comes down to ₹5,000, the Stop-loss condition is triggered.

In Exit mode, eligible positions are squared off. This means the position exits with a minimum profit of ₹5,000. In Alert only mode, only an alert is sent and the positions remain open.


Smart Exit checks the overall P&L of eligible positions, not the P&L of each position separately.

What happens when Smart Exit is triggered?

Selected modeOutcome
Exit modeEligible positions are squared off using a Market order with Protection.
Alert only modeAn alert is sent, and the positions remain open.

What If?

ScenarioSolution
Target is ₹10,000 and Stop-loss is -₹5,000.This is a negative Stop-loss. If the overall P&L reaches -₹5,000, the Stop-loss condition is triggered.
Target is ₹10,000 and Stop-loss is ₹5,000.This is a positive Stop-loss. If the overall profit reaches a higher value, such as ₹7,000, and then comes down to ₹5,000, the Stop-loss condition is triggered.
Stop-loss condition is met in Exit mode.Eligible positions are squared off using a Market order with Protection.
Stop-loss condition is met in Alert only mode.An alert is sent, and the positions remain open.
Only one eligible position is open.Smart Exit works based on the P&L of that eligible position, as it is the only position included in the overall P&L.
Multiple eligible positions are open.Smart Exit works based on the combined overall P&L of all eligible positions.
Equity Delivery or MTF positions are open.These positions are not included in Smart Exit and remain unaffected.

Last updated: 19 Jun 2026


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