Bracket order is the kind of order placement utility which allows us to enter into the trade with predefined stop loss or trailing stop loss and target price. You can read more about it and how it works by clicking here.
Many a times bracket order becomes quite useful when the volatility is very high and we need to enter and exit quickly. Also it allows us to trail stop loss and help manage the trade better. No need to say that it also requires us to keep very little margin, as low as Rs. 11K, as our risk is managed.
So all in all, Bracket orders are made for the intraday traders like us who like to trade in high risk instruments like futures and options but still want to control the risk and manage the trade better.