1. What the call does at Target 1
When Target 1 is reached, the call stays open for the next target. Its stop-loss stays as published unless the analyst posts an instruction to trail it, often to the entry price ("to cost"). Where the call's plan books part of the position at a target, its result counts that part at the booked price, weighted by its share.
2. Three ways to handle Target 1
| Topic | Book all at T1 | Book half at T1, trail the rest to cost | Hold all, trail to cost |
|---|---|---|---|
| The price then reaches T2 (112) | +1.0R (₹1,600) | +2.0R (₹3,200) | +3.0R (₹4,800) |
| The price returns to 100 after T1 | +1.0R (₹1,600) | +0.5R (₹800) | 0R (₹0) |
None of the three is right in general. Booking all fixes the gain and gives up the rest of the move. Holding all keeps the whole move open and risks giving back the gain. Booking part sits between them. What matters is choosing a rule before the trade and following it every time, so that your record can be judged.
3. Trailing a stop
Trailing a stop means moving it in the trade's favour as the price moves. A stop trailed to cost after Target 1 means the rest of the trade closes at the entry price, a result of zero, if the price comes back, before costs and gaps. A stop trailed too close exits on ordinary movement.
- A stop is trailed only in the trade's favour, never away from it.
- A trailed stop is still a level: a gap can fill beyond it.
- For F&O and MCX, booking part needs more than one lot. One lot cannot be split.
4. Why your result differs from the call's
- Your fill: the price you entered at, not the call's fill.
- Your exits: booking part, or exiting before or after the call.
- Costs: the call's result is before brokerage, taxes and slippage; yours is after them.
- Size: the same R is a different number of rupees in every account.
Record each of your own decisions in a journal, so you compare like with like.
