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Baskets

Introduction to Baskets

Baskets are orders in groups of scrips (stocks, ETFs, F&O contracts) that can be connected to your triggers for easy one-click execution.

Sentinel Basket Dashboard

What this means is, when any of your trigger conditions are met, an alert will be triggered and through the alert notification (email/kite push) you will you get the option to place one-click orders (with pre-set parameters such as buy/sell, quantity, price, trigger price, order type, product type etc.) in the basket which is connected to that trigger.

Sentinel Basket GIF

Examples

A few of the scenarios where you can use the baskets feature is -

  • You can use baskets to sell your holdings based on a Stop Loss alert or Target price alert.
  • You can use the baskets feature to trade F&O contracts based on the spot price. You can even create a basket with F&O spreads linked to a trigger on the spot.
  • You can create quasi ETFs.

Let’s understand how baskets work with a few practical scenarios:

  • You are looking for trading/investment opportunities in the banking sector. You create an alert trigger for LTP of BANKNIFTY greater than or equal to 28500. Now, you can create a basket with CNC, LIMIT, BUY orders at specific prices for HDFCBANK, ICICIBANK, KOTAKBANK and SBIN.

    When BANKNIFTY is >= 28500, you will get the option to place all the pre-set orders in the stocks in your basket (HDFCBANK, ICICIBANK, KOTAKBANK and SBIN) with a single click.

  • You trade on NIFTY F&O contracts based on NIFTY50 levels. You create an alert trigger for NIFTY50 equal to 11000. Now, you can create a basket with NRML stop loss buy order for the contract NIFTY 10500 PE.

    When NIFTY50 = 11000, you will get the option to place the pre-set order in NIFTY 10500 PE with a single click.

A basket can have a maximum of 50 instruments in it. You can create upto 200 baskets.

BO/CO orders and AMO orders aren’t supported as of now.