Hello everyone,
I want to know what would be the outcome of the following order cases;
Let’s assume ICICIBANK closes at 340 at end of trading day today.
Now in after market session I will place the following order;
BUY ORDER
- LAST DAY CLOSE - 340
- ENTRY - 342 (above close)
- TARGET - 345
- STOP LOSS - 338
Now I want to know what happens in the following 4 cases on the next day open;
Case 1 - Opens at 346 (above target)
Case 2 - Opens at 343 (above entry and below target)
Case 3 - Opens at 341 (below entry)
Case 4 - Opens at 337 (below stop loss)
I would like to know if the AMO order I placed the day before gets triggered in the above case and if yes, the what would be the entry and exit prices.
For further information,above type of order is generally called BUY STOP order (buy entry above current price). For buy entry below current price its called BUY LIMIT order. Vice-versa for STOP orders.
Refer the image below for quick understanding.