Cover Order (CO) is an advanced intraday order type that consists of a Market/Limit Order accompanied by compulsory Stop Loss Order reducing the risk of your trade. Hence cover orders offer higher leverage. Check out the Cover Order Leverage. When you enter a trade using a Cover Order, ‘Limit Order’ or ‘Market Order’ is triggered first, Once the ‘Limit Order’ or ‘Market Order’ is successfully triggered, Stop Loss Order is executed automatically.
Note*Alice blue offers Cover Orders for Equity futures & MCX futures.