Now Market is moving from 345…348…350…351…and directly to 353.50. then what will happen
Case1: Order stil stay in pending(Yes or No)
Then after market is falling from 353.50
Now, Again as the market falling, if the script falls to 353 or below
Case2: if MP is at 353 what happen now?(Order exe at 353)
Case3:if MP is at 352 what happen now?(Order exe at 352)
Case4:if MP is at 351 what happen now?(Order exe at 351)
Case4:if MP is at 351.50 what happen now?(Order exe at 351.50)
what happen other than this plz explain
When market is falling mp is not hit the tp(351.50) , mp is moving between 353-352 what happen now order is in open state?
In this case order will exe at any where between 353and352?
I don’t know… I may be wrong…
I haven’t experienced such scenario yet…as such scenario is nearly impossible in liquid stock…
But my common sense tells me that what general public always think and tell each other is completely WRONG.
Let MP–345
Placing SL(Buy Order)
TP—351.50
LP—353
What ideally should happen - Price reaches TP = 351.50…
your order is fired as Limit order with LP - 353
What Limit order tells that “this is my limit”.
ie while buying - I am not giving even 5 paise more than this price. Any price below that is welcome
while selling - I am not taking even 5 paise less than this price. Any price more than that is welcome.
So here as soon as TP is hit, and order fired, as LTP < LP.
So NSE will say - Yaar you wanted it for at most 353 but look it is available at 351.5 or 351.6 only.
So order immediately executed and you get Buy price of 351.5 or.6
Now your scenario that as soon as order is fired and prices go above LP of 353 to say 354
Surely here order will remain pending as you don’t wanna spend any thing more than 353.
But the real problem with almost everyone is about understanding the situation in which the LTP goes below 351.5 ie TP also…
You call any broker help line…they will tell you the same thing which few here have mentioned…
That your order will get executed only between 351.5 & 353
WRONG.
What I think is that as your limit is 353 even if price falls to 350, as this price is best available and within your limit your order will get executed. @Bhuvan@nithin orrect me if I am wrong
"You call any broker help line…they will tell you the same thing which few here have mentioned…
That your order will get executed only between 351.5 & 353
WRONG.
What I think is that as your limit is 353 even if price falls to 350, as this price is best available and within your limit your order will get executed."
The purpose of trigger price for fresh buy order is that the client wants the order to get executed only if the price exceeds a certain point (351.5 in this scenario) going by this logic ideally the order should not be executed below the trigger price (351.5 in this scenario).
I have personally not encountered a case where price goes past tp and lp without getting executed then comes back down and goes below tp, zerodha support should confirm exactly what will happen.
A limit buying order with price higher than current market price is like a market order with protection (protection is the limit price). So if price falls to 350, your buy order will executed at 350 itself. It will never executed above 353.
@nithin
Does this mean that I am correct?
More specifically, the misinformation is about SL orders.
Say if CMP is 345.
If I put in order of Buy SL with Trigger price of 351.5 and Limit of 353.
Now order is fired as soon as CMP rises above 351.5.
Now if suddenly CMP falls below 351.5 , say 350.
Will the order get executed at 350 itself or will it remain pending.
Ask any expert, customer care out there, they will say… Order gets executed between Trigger price and Limit price. So conclusion is that at 350 order will remain pending, which I think is wrong.
I think the role of trig price is to just activate your order. Hence order will have only one condition ie limit of 353.