I wanted to know regarding the AMO feature in Zerodha. I have read the documentation, but I have a simple query on what price the AMO gets hit. Since the market opens up at 9.15 am, looking at the 1 minute chart, will my AMO get placed at the opening price of 9.15 am and I will be delivered the shares priced at 9.15 am or will my AMO get placed at the closing price of 9.15 am (I’m viewing the 1 minute chart)?
Are there chances of me getting the shares at the opening price at 9.16 AM?
This is because I often see a 2-3/- difference even in a 1 minute chart. Also, this will be useful to me in my codes.
AMO orders in equity segment are sent to the exchange for execution at 9 AM.
Here’s how the pre-market session works:
If the order is not executed in the pre-open session, it’ll be carried over to normal market. If you’ve placed a market order and if it is not executed in pre-market session, it’ll be carried to normal market hours as limit order at the equilibrium price discovered in pre-market. So this order will execute in normal market at discovered price or better price.
While if you’ve placed a limit order, this will execute when the market price reaches the price specified by you. Until then the order will remain pending.