The client shall be responsible for squaring off all open positions. While Zerodha may square off positions, it is under no obligation to do so. The selection and sequence of such square-offs are at Zerodha's sole discretion. Zerodha shall not be held liable for any loss or damage resulting from exercising or not exercising this right. To learn more, see
Risk Disclosure Document (RDD).
You can use cover orders (CO) for intraday trading with built-in risk protection. A cover order combines your main order with a mandatory stoploss, automatically limiting your losses if the trade moves against you.
When you place a cover order, you place either a market or limit order alongside a compulsory stoploss order within a specified range.
How cover orders work
- For buy cover orders: Set your limit price higher than the stoploss trigger price.
- For sell cover orders: Set your limit price lower than the stoploss trigger price.
You can set your stoploss trigger price within a 10% range when placing cover orders. Cover orders have specific limitations:
- You can only use them for intraday trading
- They are not available on BSE or F&O segments
- You cannot cancel the stoploss once placed
- You can only exit cover orders from the order book
- Zerodha may square off your open positions if you don't close them before the scheduled auto-square off timings.
If either part of your cover order gets rejected or cancelled, contact Zerodha's support team at 080 4718 1888 / 080 4719 1999 from 9:00 AM to 3:30 PM on trading days to square off your position.