- Full form: Cover Order
- Can be used to trade in equity cash and Derivative segments. Not available for trading in commodity and currency segments.
- Equity cash & Derivative Leverage: 16-27 times, on a basket of 49 scrips (From NIFTY50).
- The product is specifically designed for intraday traders who look to leverage their capital, get additional exposure and take advantage of small price movements and have a disciplined approach to trading.
- It is compulsory to enter the trade with a stop loss. The amount of leverage depends upon the closeness of stop loss price to the current price. If the current price is Rs. 100 and a person “C” keeps a stop loss of Rs. 98, he can get more leverage as compared to Person “D”, who keeps a stop loss of Rs. 90.
- A trader can get extra exposure to immensely magnify their investment capacity; thus, vastly magnify returns. Eg. If you have Rs. 10,000 in your Tradedeal account and if you want to buy a scrip with a close stop loss, you can get 27X leverage, you can buy shares worth Rs. 2,70,000.
- Trader needs to square-off or close his position on the same day before 3:15 PM or it will get closed from the RMS end. It is a strictly intraday product and cannot be converted to CNC or Normal to take a long position.
- If the Mark-to-market value reaches 80%, the position will be closed from the RMS end. If the position is squared off from the RMS end, Call & trade charges of Rs. 18 will be applied.