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Section 1 · Module 1.3

Order Types & Execution

5 min read

NSE stop-loss lab

Educational only. Compare SL-M (market after trigger) vs SL-L (limit after trigger) when price gaps through your stop.

Entry ₹1,000 · protective exit is a sell stop when price moves against you.

Next print after the trigger path: ₹955 — stop arms

SL-M

Fills near ₹955

Exit is likely, but slippage ≈ ₹25 vs trigger.

SL-L

Triggered — may not fill

Print ₹955 is past the limit ₹980, so the exit can fail on a gap.

Try it: Switch to Gap through stop — SL-M exits with slippage; SL-L can miss the fill.

What Is a Market Order on NSE?

A market order executes instantly at the best available price. A market buy matches the lowest ask; a market sell matches the highest bid.

Risk: In volatile or illiquid markets, fills can be significantly worse than the last traded price (LTP) on your screen.

What Is a Limit Order on NSE?

You specify the maximum buy price or minimum sell price. Buy limits execute at or below your price; sell limits at or above.

Trade-off: price control is guaranteed; execution is not. Unfilled orders rest in the book until matched or end of day.

Try Market, Limit, and Stop-Loss

Submit each type once. Market is immediate, limit waits for your price, and stop-loss stays dormant until the trigger.

Stop-Loss Orders (SL-M vs SL-L)

A stop-loss stays dormant until the trigger prints, then activates as market or limit:

  • SL-M: Becomes a market order — exit is usually filled, but slippage can push the fill past your trigger.
  • SL-L: Becomes a limit order — price is capped, but a fast gap can leave you without a fill.

Long positions use a sell stop. Short positions use a buy stop so the exit closes the short when price rises.

Use the lab at the top of this page: switch between mild slip and a gap through the stop to see SL-M fill with slippage while SL-L can miss.

Knowledge check

You short-sell Nifty futures at ₹24,000. You want an automatic exit if price rises to ₹24,050. What order?

Tap an answer — you get instant feedback.

Knowledge check

Price gaps straight through your sell stop trigger. Which outcome matches SL-L?

Tap an answer — you get instant feedback.