A Stop-Loss order is a buy/sell instruction designed to minimize potential losses in case of adverse market movements. Let's break it downif you've bought a stock at ₹200 and want to limit your loss at ₹195, you can set a Stop-Loss order to automatically sell the stock when its price hits ₹195. The primary purpose of this order is to prevent losses from surpassing your predetermined risk level.

What are the two types of Stop-Loss orders offered by Tradejini?

1. SL Order (Stop-Loss Limit)This order involves two prices – the limit price and the trigger price. The order is converted in the exchange as a limit price order when the market price reaches/breaches the trigger price. System will trigger stoploss order but the execution will depend on the market rate when the stoploss order is triggered. 
2. SL-M Order (Stop-Loss Market)In this order, only the trigger price is entered while placing the SL-M order. The order is converted in the exchange as a market order when the market price reaches/breaches the trigger price. The chances of order execution in SL-M order is always higher than SL order.