Automatically buy stock when it's within a price range


#1

Is it possible to set a buy order to automatically buy share when a share’s price is within a price range?

For example, I would like to buy 500 shares of XYZIND at any price between Rs. 100.00 to Rs. 100.55. When the price for that stock reaches, say Rs. 100.35 or any other price between Rs. 100.00 to 100.55, I’d like to end up with 500 shares of it. Much like a limit order that buys share at the limit price set.

Is something like this possible?

P.S. I trade using Zerodha

Thanks,


#2

Certainly possible with an algo platform built over Kite, where you key in this price range condition and the platform brings the orders to you as and when the conditions meet.


#3

One way to do it would be to use SL orders. But it has its limitations. The rules to be followed when placing an SL order is buy above Current market price [LTP] & sell below Current Market Price.

So in the above scenario, lets say if the price is 100 & you want to buy between 100 & 100.55, you could place a SL buy order with the trigger as 100 & Price as 100.55.

This will get executed within that range or the range extremes depending on the counter order present at the exchange.