Super Multiple helps you to place intraday orders using an auto square-off facility with a higher multiple. Super Multiple enables you to create an intraday position with an automatic stop-loss order. (The system will place the stop loss.
You can place a Super Multiple order when placing a new buy or sell order. Orders will be placed for exchange at the market price only. The system will automatically place a stop- loss order at +/- 2% from the LTP . Now, suppose the position does not square off by 11:10 pm. The system will then square it off automatically. Here, 11:10 pm is the broker- defined time. It may change depending on different factors.
Benefits of Super Multiple
Kotak Commodities cannot be held liable for any loss incurred by the client for non-squaring off or a delay in squaring off the positions automatically. This may be due to either illiquidity in the particular commodity or due to a technological problem at either the broker’s or the exchange’s end. Further auto square-off orders are placed as market orders. These orders are matched against the best price at the exchange level. Kotak Commodities does not have any control over the price ruling in the market when the exchange matches these orders.