How to Set Stoploss in Groww?

Stoploss order saves the investor's money. Investors can place stop loss only when they have a position in the market. Groww allows investors to place stop-loss orders online. Learn how to set stop loss in Groww.

Profit and loss are part of the stock market. Investors usually close the trade after making a profit. However, investors do the opposite when they start losing money. They wait in the hope that the price will go higher in the future. But the share market does not work like that. Share prices go up and down according to market conditions. And if the investor doesn’t stop the loss on time then a big loss can occur.

Types of Stoploss Positions

There are two types of stop-loss positions :

1. Selling Stoploss Order: Selling the share when the price drops to prevent loss.

For example: An investor has a share of Reliance at Rs 1000. And the share price of reliance is dropping at a significant rate. Then the investor can place the stoploss order of Rs 900 to avoid the loss.

2. Buying Stoploss Order: Works well for short selling. Here investors make a profit when there is a price drop.

For example: If an investor knows that the share price of a stock will fall from Rs 150 to Rs 120 then the investor sells the stock on behalf of the Groww at Rs150. And when the share price falls the investor buys the same share to make a profit.

Steps To Set Stoploss in Groww App

Even a beginner in the share market can set the stop loss in the Groww App in simple steps :

1. Open the Groww App on the web/mobile.

2. Click on the Holdings option.

3. Choose the stock from the holding option or the stocks available below the holding options.

4. Sell and Buy options will appear on the screen under the share name.

5. Select the Sell option.

6. Now on the next page click on the setting icon.

7. Under the customise sell order section choose the SL order option.

8. Now click on continue.

9. Enter the no. of quantities to sell & set the limit for SL Trigger Price.

10. Click on the sell option

In this way, an investor can set the stop loss. But stop loss is valid for one day. Therefore if an investor again wants to place the stop loss then follow the same steps.

Also, Check - How to Set Safe Exit in Groww.

Conclusion

Every investor invests in the share market to make a profit. But very few get good returns. And the reason is missing share market updates. A good investor always stays active in the share market. So the investor must check how the investment portfolio is working. And if the portfolio is showing losses then use Stoploss to save the funds. This option is helpful when an investor is not sure about the investment. Follow the steps given in the article. And save money.