My stop-loss order for CO is missing, and I see a reverse position which I didn't take. Why is this?
When you place a Cover Order (CO), both legs of the Cover Order get placed in the exchange. If either of the leg is canceled by the order being out of the execution range, the other leg might create a hanging position that can not be canceled by you.
If the second leg gets canceled, the first leg of the CO would become a hanging position. Likewise, if the first leg of the CO gets canceled (because of the order being out of the execution range), it may create a reverse position instead of the expected direction.
This open CO position will either have to be squared off by our RMS team on request, or you can take a counter position in MIS to mitigate the risk.
Whenever, our RMS team squares of your hanging CO position, they do it by placing a counter order using the NRML product type. In such scenarios, you will see another position for which you haven't placed the order manually.
This will show up under your 'Positions' under day's history. This position will nullify the hanging CO position. You do not have to make another trade to close this NRML position.
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