You can place Derivative Cover Sell order under Trading>Buy/Sell>Sell and product type as ‘Cover’. First leg order would be ‘Sell’ as Market order and second leg order would be ‘Buy’ which is a stop loss order. Trigger price and limit price has to be defined for this second leg stop loss order and the order will get triggered once market price rises to or above the defined trigger price.

For e.g:

To place a Sell cover order for 25 NIFTY FUT, first leg will be ‘Sell’ market order and gets executed at market price ( eg; say Rs 8400). 2nd leg order will be ‘Buy’ stoploss limit order, where the Trigger price can be anything above current market price eg; say Rs 8500 and Limit Price should be as per the minimum difference required in between the trigger price and limit price for eg; say Rs 8600. The 2nd leg order would get triggered if the LTP of Nifty rises to or above Rs 8500 and will get executed at best available price in the market but not above Rs 8600.