Alerts for MF prices

[pyarlath]

Why is there nothing for Mutual Fund something like Alerts?

I woudnt mind if its like GTT in kite…

[Anusha_Raju_Porwal]

@pyarlath GTT/Conditional option for Mutual funds orders is available on Coin Web, please refer to the below post

Coin Web - Conditional Buy & Redeem Order

Conditional Orders for Buying We have reintroduced a feature that lets users create conditional buy orders based on specific NAV. Users can now set buy orders to execute only when the NAV hits a predefined threshold, which can be up to 60% below the current value. Once the condition is met, the buy order is automatically placed, and the user is notified to complete the payment. The purchase order will be allocated based NAV of the day funds are realised at the clearing corporation. These orders…

[pyarlath]

Thanks this kind of helps, but will need more details and is kind of dangerous as well cause once the order is placed it cannot be cancelled…

[SG_13]

@pyarlath

cannot be cancelled

The risk is probably only on the sell side (assuming it can’t be cancelled), as for buy orders, since it involves payment, i think you can choose not to buy, if the NAV on the trigger day has risen compared to the target NAV set earlier.

Once the condition is met, the buy order is automatically placed, and the user is notified to complete the payment.

@pyarlath

dangerous

Yeah, i would prefer if instead of automatically triggering orders, they remain as alerts, that is, they notify the users, giving them control over the decision of whether to go through with the transaction or not.

There is always going to be atleast 1 day lag between the NAV conditions being met and the trigger date (i.e if the EOD NAV of Monday meets my condition, order will be triggered sometime on Tuesday).

It is possible that you would end up selling at low price or buying at a higher price than the intended NAV.

So probably, one would have to set our triggers atleast 1% above the intended Sell NAV or atleast 1% below the intended Buy NAV, to account for the market fluctuations (if any) on the order trigger/placement day.

[pyarlath]

@SG_13

since it involves payment, i think you can choose not to buy

This is not true, if i check on normal buy today on coin, It clearly displays a message “orders once placed cannot be cancelled” so i assume the same is liable with this functionality.

@SG_13

There is always going to be atleast 1 day lag between the NAV conditions being met and the trigger date (i.e if the EOD NAV of Monday meets my condition, order will be triggered sometime on Tuesday).

This part is what i am more worried about, cause Zerodha says any order placed before 2pm will take in the effective NAV of that day…(But this NAV is not displayed on Coin, i guess this is updated next morning, cause its published by fund houses by evening)

This is not very clear someone has to draw a diagram for this when AMC’s update When Conditionals trigger picks up the price and what is the maximum delay between order being triggered and user receiving mail (to avoid 2pm deadline miss)

[SG_13]

@pyarlath

This is not true, if i check on normal buy today on coin, It clearly displays a message “orders once placed cannot be cancelled” so i assume the same is liable with this functionality

“Once an order is placed, it cannot be deleted. However, if the payment is not completed, Zerodha SIP and lumpsum orders will be automatically deleted on the T+4 calendar day.”

[pyarlath]

Thanks for bringing this to notice…