GTT sell (delivery) order - stop loss and target

I am unable to understand the GTT “sell” order interface on upstox. I tried contacting upstox customer support via chat but they seem quite clueless on how to help and keep repeating sections of their own documentation which does not help me in this case.

So to take an example, I want to sell 20 shares of stock XYZ using the GTT delivery option. I go to XYZ/Buy and choose the GTT delivery option. I see that I can select “Place order if price is above” option. I select this and enter 500/- as the price. Now in my understanding, this 500/- is the “trigger” price and if I submit my order at this point (after going through the CDSL authorization), then the order will submitted to the market once the price reaches or exceeds 500/-. Moreover the actual price at which the shares will be sold will differ slightly from the trigger price depending on market conditions.

So far so good, but suppose now that I want to protect myself from excessive fluctuations once the order is submitted to market. I see that on the GTT sell order page there is a “stop loss” checkbox and a “target” checkbox. In my understanding, the “stop loss” is the place where I protect myself from excessive market fluctuations by entering the lowest price at which I am willing to sell. However, if I check the “stop loss” box, the interface only allows me to enter a price that is slightly higher than the trigger price - I cannot enter a price that is lower.

Similarly, the “target” only allows me to enter a price that is slightly lower than the trigger price - I cannot enter a higher price. Moreover, I am not clear as to what “target” means in the context of a GTT sell order.

Perhaps my understanding of “stop loss” in the above context is wrong. Could someone please explain what is meant by “stop loss” and “target” in the context of GTT delivery sell order. Thank you in advance.

Hey @emeskay ,

We’re here to help you. The Stop-Loss and Target settings will be based on your chosen order execution price. Targets can range from 0.25% to 500% of this price, while stop losses should be between 0.25% and 99%. These settings apply to both buy and sell orders.

With the GTT mechanism, for buy orders, the stop loss is set below the specified price, and the target is set above it. For sell orders, this is reversed. However, when placing a GTT order to sell from your holdings, it follows the setup for buy orders.

For more information:

Additionally, we’d like to get in touch with you to understand your feedback on the interface in detail. Can you please share your UCC ID with us here?

So for the GTT sell order, what is the function of the “stop loss”? What happens if the “stop loss” price is reached?

Likewise, for a GTT sell order what is the function of the “target”? What happens when the “target” price is reached?

Moreover, for GTT sell orders, am I correct in assuming that the trigger price is price specified under “Place order if price is above”?

The link “Learn about setting GTT orders for your existing holdings” (“Can I set GTT Orders for my existing Positions or Holdings? - Upstox Help Center” that you have provided has a different interface. The “Place order if price is above”/“Place order if price is below”/“immediately” option is not present in the explanation in that link. The discussion there pertains to “sell with GTT” when you go to the holdings tab in the top bar of the app.

So this raises a further question: Why do you have two different GTT interfaces - one when you click “BUY”/“SELL” and one when you click “sell with GTT” from the holdings tab?

I have responded on reddit r/IndianStockMarket. I think you have already responded to my original post there.
link to reddit discussion

Hi @emeskay ,

Thank you for reaching out. We have addressed your queries on Reddit. Please check our responses there.