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What does the error “First leg of the cover order failed, hence the stoploss order was cancelled automatically.” mean?

First leg of the cover order failed, hence the stoploss order was cancelled automatically.

This error occurs If Cover orders aren’t allowed in the scrip.

This error also occurs in volatile scrips when placing the order, if the market price varies quickly making the stop loss trigger price entered out of the allowed range. If you enter a stoploss beyond the allowed range, you will get an error message on Kite.

CO isn’t allowed on BSE scrips, Stock Options, Currency Options & Index options. One can check if CO is allowed on a particular scrip by checking the Margin Calculator .

Note: Cover orders are not allowed across F&O segments, since additional leverage is not provided for CO on index options. To know more, click here .