A Cover order is a multi-leg order used in intraday trading which allows you to place one more order along with the initial order. This order is placed at a price lower than order price. Order is exited when this price is reached.
This order type can be used to minimise losses at a stop loss price.
These orders can be exited manually before hitting stop loss price as well.

Yes, Cover orders can be placed in both NSE and BSE

You can place Cover orders only in Intraday.

No, the MTF facility is unavailable for Cover orders.

Cover orders can only be placed in the cash market segment (Equity and Derivatives) for stocks and indices.

No, you cannot place a Cover order in Delivery trading.

Cover orders can be placed in selected scrips of cash segment for intraday trading. Cover orders can not be placed on low volume scrips.

You can place a Cover order between 9:15 AM to 3:10 PM on a trading day.

If your first-leg order (initial Limit order) doesn’t get executed during the market hours of the trading day, then the Cover order will get cancelled.
If your first-leg order is executed and the stop loss leg order does not get executed, your position will get auto-squared off at 3:10pm.

Cover order can be modified in the following ways any number of times:

Initial & Stop Loss Order can be modified in case the Order has not been executed.
In case of Initial Order is executed, only Stop Loss Order can be modified.
Once the Stop loss has been executed no modifications are possible.

Tap on Watchlist at the bottom of your screen
Click on Buy/Sell & select Intraday
Tap on Smart Orders & select Cover Order
Enter the Quantity, price, stop Loss Price
Click on Place Buy/Sell Order
Your order would be placed successfully subject to fund availability