How to place basket orders on Kite?
A basket order allows a client to place multiple orders at the same time. The baskets can be saved on Kite to be used anytime in the future. To place a basket order, follow these steps:
Kite app
- Tap on Tools.
- Tap on Baskets.
- Tap on New basket.
- Enter the name of the basket.
- Search and add instruments.
- Swipe on EXECUTE.
Kite web
- Click on Orders.
- Click on Baskets.
- Click on New basket.
- Enter the name of the basket.
- Search and add instruments.
- Click on Execute.
Margins
Required margin
displays the margin that is required to place all the orders in the basket.
Final margin
displays the eventual margin that will be blocked in the Zerodha account after the order execution.
Individual orders can be deleted, duplicated, or edited by hovering over them. Additionally, the order sequence can be changed by dragging and dropping. The required margin will be different based on the sequence of the individual orders, while the final margin will be the same. For F&O strategies, placing buy option orders before future or short/writing option orders is advisable. By doing so, the F&O strategy will be executed with the least margin requirement, as displayed below:
The sequence of orders is not significant when placing an equity basket order or when adequate margins are available for placing individual orders.
To include open positions that are not part of the basket and check margin requirements, select the Include existing positions option. However, this option may display a required margin of 0 even when the margin is required to place the order. This is because an order in the basket might reduce the overall margin while still requiring a margin for placement. If this is confusing, it is better to disable the option.
Execution
After clicking the execute option on Basket, orders are placed in the same sequence as in the basket. It is important to confirm the status of all individual orders within the basket or on the Kite order book if they were placed, executed, or rejected once the basket order is executed.
Duplicate option to get over the order freeze or quantity limit
Maximum limits are set per order when trading stocks and F&O. If orders exceed these limits, they must be placed multiple times. Baskets make this process easy, especially with the duplicate order function.
Replacing a rejected order
Assume that some orders included in a basket are rejected for some reason. It is possible to modify the orders and manually execute them from the order window of the basket.
Did you know?
- Up to 20 orders can be included in each basket, and a total of 50 baskets can be generated.
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There are no additional charges for basket orders.
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