I am developing a personal algorithmic trading application using Kite Connect API and need clarification on protective exit orders before enabling live execution.
My strategy buys Bank Nifty CE/PE options for intraday trading using the MIS product. Each entry requires a stop-loss and a target.
Could you please confirm the following?
1. Stop-loss support: Can Kite Connect place a regular `SL` (stop-loss limit) SELL order with `product=MIS` for an already-filled long Bank Nifty option position on `exchange=NFO`? 2. Target orders: Can a regular `LIMIT` SELL order with `product=MIS` be used as the target for the same position? 3. OCO support: Is there a broker-managed, atomic one-cancels-the-other (OCO) mechanism supported through Kite Connect for Bank Nifty NFO options with MIS? If so, which API and product/order types support it? 4. Partial fills: How should stop-loss and target orders be managed when an entry or exit is only partially filled? Does the API support a mechanism that prevents both exit orders from selling more than the remaining position? 5. Cancellation and modification: What is the recommended safe workflow for modifying or cancelling an existing protective order when the position quantity changes? 6. Restrictions: Are there any account-level, exchange, product, or instrument restrictions affecting these order types? 7. Static IP: Please confirm the current static-IP requirements for API order placement and how I can verify that my account's registered IP is active.
I understand that a stop-loss limit order may not execute if the market moves beyond its limit price. I need to understand the supported order-management mechanism and its limitations, not a guarantee of execution.
Please provide the applicable documentation or a technical explanation for these specific NFO/MIS option scenarios.
1 and 2. For existing positions, you need to select the NRML product type. Yes, GTT orders can be used; however, please note that they are intended for long-standing orders. 3: Refer to this forum link and support article. 4. As soon as the trigger condition is met, the order will be placed with the exchange, and the other leg will be cancelled immediately upon triggering.
5. Once triggered, the order will remain in the OPEN state. You can modify or cancel it based on the prevailing market conditions.
6. Certain restrictions apply to options trading. You may refer to the relevant support articles for further details. 7. Refer this discussion and support article.
3: Refer to this forum link and support article.
4. As soon as the trigger condition is met, the order will be placed with the exchange, and the other leg will be cancelled immediately upon triggering.
5. Once triggered, the order will remain in the OPEN state. You can modify or cancel it based on the prevailing market conditions.
6. Certain restrictions apply to options trading. You may refer to the relevant support articles for further details.
7. Refer this discussion and support article.