Order Types
Learn about Market, Limit, Stop Loss, and other order types available in Indian markets and how to use them effectively.
Market Orders
A Market order buys or sells immediately at the best available price. It guarantees execution but not the exact price — you might get a slightly different price than the last quoted price, especially in fast-moving markets. Use Market orders when speed matters more than price precision.
Market Order Execution
Best Ask
2,875.60
Last Price
2,875.45
Best Bid
2,875.30
Executed Instantly at best available price
Limit Orders
A Limit order lets you specify the exact price at which you want to buy or sell. The order executes only if the market reaches your price. Buy limit orders execute at or below your price; sell limit orders execute at or above it. Limit orders give you price control but don't guarantee execution — if the market never reaches your price, the order stays pending.
Limit Order Pending
Order executes only when market reaches ₹2,874
Stop Loss Orders
Stop Loss (SL) orders trigger when the price crosses a threshold you set, protecting you from excessive losses. There are two types: SL-Market (the order becomes a market order once triggered) and SL-Limit (the order becomes a limit order once triggered). SL-Market guarantees execution but not price; SL-Limit gives price control but risks non-execution in fast markets.
Stop Loss Trigger
Choosing the Right Order Type
Use Market orders for urgent entries and exits. Use Limit orders when you want a specific fill price and can afford to wait. Always set Stop Loss orders to manage risk — they're not optional, they're essential. In Virtual Trading 2.0, you can set SL and Target levels at the time of placing your order for automated risk management.
Which Order to Use?
Need speed? → Market Order
Want exact price? → Limit Order
Limit risk? → Stop Loss Order
Key Takeaways
- 1
Market orders prioritize speed; Limit orders prioritize price.
- 2
Always set a Stop Loss — it's your safety net against large losses.
- 3
SL-Market guarantees execution; SL-Limit gives better price control.
- 4
Practice all order types in virtual trading before using real capital.
Pro Tip
In volatile markets, use Limit orders instead of Market orders to avoid slippage — the difference between expected and actual fill price can be significant.