If I keep an AMO order for the previous day’s closing price, but the market opens high, will my order get triggered?
AMO orders (Limit and Market) in the equity segment are sent to the exchange at 9 AM, during the pre-market session. More details here.
During pre-market session from 9 AM till 9:08 AM you can only place, modify or cancel orders.
After price discovery is complete, there is an order matching period from 9:08 AM till 9:12 AM. Orders are matched at the equilibrium price, where Limit Orders are matched with Limit Orders and Market Orders are matched with Market Orders. You can check how the pre-market session works here.
Orders which aren’t matched are carried forward to normal trading hours. Also, unmatched market orders in the pre-open will be carried over to the normal market with as limit orders at the equilibrium price, explained here.
Hi at what price my amo will get triggered the next session. Will it get triggered at previous closing price or new price?
Depends on the type of order you place. Limit order will execute at the price specified or a better price. While the market order will execute at the best available price in the market.
You place your order after the normal day closing of the market. Your order gets executed the next day when the market opens. This means your AMO order will get executed at the market’s opening price the next day.