Can I place a buy order with upper limit and Can i place a sell order with a lower limit?

General
1

Is it possible to buy a stock of certain quantity at market price but below certain price point? For example,Is it possible to buy 100 shares of Page industries at any price as long as it is less than 13,500 Rs ?

In the same way, Is it possible to sell a stock of certain quantity at market price but above certain price point? For example,Is it possible to sell 100 shares of Page industries at any price as long as it is greater than 13,700 Rs ?

2

  1. Yes, just place a limit buying order at 13500. Whenever the price comes, order gets executed.

  2. Yep, similarly like above, place a limit selling order at 13700.

3

Yeah, place a Limit Order (BUY) at the price of your choice, for eg. 13.45 or 13.50, when the market/price of that particular scrip reaches this price it will get executed.

Do the same thing for Sell, but opposite. Place a Limit Order (SELL) @ 13.70 or 13.75, when the scrip reaches this price it will get Sold.

4

Hi Nithin…Thanks for the prompt response. But Limit orders may not serve my purpose because of below reasons:

  1. In Buy…If I place a limit order at 13,500 Rs…then even if someone is willing to sell something at much lower price…(say at 13200 Rs)…wouldnt I be buying it at 13,500 and hence loosing out??
  2. In Sell…if I place a limit order at 13,700 Rs…again if someone is willing to buy it at much higher price…say 14,000 Rs…then wouldnt I loose out again??
    My requirement is … I want to buy/sell at the best possible price that market has to offer until I hit my limits (Uper limit for buy…lower limit for Sell)